ProShare Advisors LLC Purchases 2,395 Shares of Molson Coors Beverage Company $TAP

ProShare Advisors LLC raised its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 4.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,943 shares of the company’s stock after purchasing an additional 2,395 shares during the quarter. ProShare Advisors LLC’s holdings in Molson Coors Beverage were worth $2,450,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Nuveen LLC purchased a new stake in Molson Coors Beverage during the 1st quarter valued at $22,253,000. Jump Financial LLC grew its holdings in shares of Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after acquiring an additional 16,349 shares during the period. Hsbc Holdings PLC increased its position in Molson Coors Beverage by 32.8% during the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after acquiring an additional 115,186 shares during the last quarter. Nordea Investment Management AB boosted its position in Molson Coors Beverage by 81.9% in the second quarter. Nordea Investment Management AB now owns 674,214 shares of the company’s stock worth $32,416,000 after purchasing an additional 303,602 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Molson Coors Beverage by 2.3% during the 1st quarter. LPL Financial LLC now owns 734,173 shares of the company’s stock valued at $44,689,000 after purchasing an additional 16,581 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TAP. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Tuesday. Citigroup decreased their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Needham & Company LLC cut their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Roth Capital reaffirmed a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Finally, Piper Sandler cut their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $54.56.

Molson Coors Beverage Trading Down 0.9%

Shares of TAP stock opened at $46.45 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock has a fifty day simple moving average of $46.12 and a two-hundred day simple moving average of $49.63. The firm has a market capitalization of $9.18 billion, a PE ratio of 9.16, a PEG ratio of 1.60 and a beta of 0.65. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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 predict that Molson Coors Beverage Company will post 6.35 EPS 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 shares were purchased at an average price of $44.47 per share, with a total value of $99,835.15. Following the completion of the acquisition, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Thomas Molson bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $46.79 per share, with a total value of $350,925.00. Following the completion of the purchase, the director directly owned 22,654 shares of the company’s stock, valued at $1,059,980.66. This represents a 49.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Company Profile

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.