Intech Investment Management LLC Boosts Stock Position in Molson Coors Beverage Company $TAP

Intech Investment Management LLC increased its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 231.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,306 shares of the company’s stock after acquiring an additional 149,670 shares during the period. Intech Investment Management LLC owned about 0.11% of Molson Coors Beverage worth $10,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Molson Coors Beverage by 414.3% during the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after purchasing an additional 1,600,748 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $38,377,000. Dimensional Fund Advisors LP increased its stake in Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after buying an additional 750,388 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Molson Coors Beverage by 72.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock worth $84,024,000 after buying an additional 579,649 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Molson Coors Beverage by 24.2% during the 1st quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock worth $170,265,000 after buying an additional 544,353 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.9%

Shares of NYSE TAP opened at $46.45 on Friday. The business has a 50-day moving average of $46.12 and a two-hundred day moving average of $49.63. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Insider Activity at Molson Coors Beverage

In related news, Director David S. Coors bought 2,245 shares of the stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $44.47 per share, for a total transaction of $99,835.15. Following the acquisition, the director owned 30,586 shares in the company, valued at approximately $1,360,159.42. This represents a 7.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Thomas Molson purchased 7,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the purchase, the director directly owned 22,654 shares in the company, valued at $1,059,980.66. This represents a 49.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.71% of the company’s stock.

Analysts Set New Price Targets

TAP has been the subject of several research reports. JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price target for the company. Wells Fargo & Company decreased their target price on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley cut their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.56.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.