Molson Coors Beverage (NYSE:TAP) Position Lifted by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 201.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,703 shares of the company’s stock after acquiring an additional 124,146 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.09% of Molson Coors Beverage worth $9,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Morgan Stanley boosted its stake in Molson Coors Beverage by 39.8% during the 4th quarter. Morgan Stanley now owns 1,213,788 shares of the company’s stock valued at $54,850,000 after acquiring an additional 345,487 shares during the last quarter. Adirondack Research & Management Inc. bought a new position in shares of Molson Coors Beverage in the 4th quarter worth about $820,000. Truist Financial Corp bought a new position in shares of Molson Coors Beverage in the 4th quarter worth about $1,081,000. Renaissance Technologies LLC lifted its position in shares of Molson Coors Beverage by 127.7% in the 4th quarter. Renaissance Technologies LLC now owns 771,500 shares of the company’s stock worth $34,864,000 after buying an additional 432,632 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Molson Coors Beverage in the 4th quarter worth about $87,548,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating and set a $53.00 price target on the stock in a research report on Tuesday, April 13th. Morgan Stanley raised their price target on shares of Molson Coors Beverage from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, May 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.00 price target (down from $45.00) on shares of Molson Coors Beverage in a research report on Thursday, March 25th. Wolfe Research started coverage on shares of Molson Coors Beverage in a research report on Monday, April 19th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein started coverage on shares of Molson Coors Beverage in a report on Monday, May 24th. They issued an “outperform” rating and a $74.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.08.

Molson Coors Beverage stock opened at $60.72 on Friday. The firm has a market cap of $13.17 billion, a PE ratio of -17.60, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.45 and a current ratio of 0.66. The firm’s 50-day moving average is $55.87. Molson Coors Beverage has a 52 week low of $32.11 and a 52 week high of $61.48.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, April 29th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.13. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Molson Coors Beverage had a negative net margin of 6.54% and a positive return on equity of 5.91%. On average, equities research analysts anticipate that Molson Coors Beverage will post 3.87 earnings per share for the current year.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is headquartered in Chicago, Illinois.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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