Aviva PLC Purchases 49,072 Shares of Molson Coors Beverage Company $TAP

Aviva PLC boosted its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 685,780 shares of the company’s stock after acquiring an additional 49,072 shares during the quarter. Aviva PLC owned 0.34% of Molson Coors Beverage worth $32,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TAP. Summit Investment Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 1.6% in the 1st quarter. Summit Investment Advisors Inc. now owns 49,067 shares of the company’s stock valued at $2,987,000 after purchasing an additional 751 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Molson Coors Beverage by 1.7% during the 2nd quarter. Penserra Capital Management LLC now owns 15,699 shares of the company’s stock worth $754,000 after acquiring an additional 257 shares during the period. Twin Capital Management Inc. boosted its stake in shares of Molson Coors Beverage by 2.9% during the 2nd quarter. Twin Capital Management Inc. now owns 25,510 shares of the company’s stock worth $1,227,000 after acquiring an additional 719 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of Molson Coors Beverage by 2.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 15,312 shares of the company’s stock worth $736,000 after acquiring an additional 318 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in Molson Coors Beverage by 4.4% in the 2nd quarter. Freestone Capital Holdings LLC now owns 53,612 shares of the company’s stock valued at $2,578,000 after acquiring an additional 2,267 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $46.27 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.14 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. The company has a 50 day moving average of $46.47 and a 200-day moving average of $49.95. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price objective for the company. Citigroup reduced their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Morgan Stanley lowered their price target on shares of 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. Sanford C. Bernstein cut their price objective on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings downgraded Molson Coors Beverage from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.56.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the transaction, the director directly owned 30,586 shares in the company, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.71% of the company’s stock.

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.