Molson Coors Beverage Company $TAP Shares Acquired by AlphaQuest LLC

AlphaQuest LLC increased its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 365.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,791 shares of the company’s stock after buying an additional 22,611 shares during the period. AlphaQuest LLC’s holdings in Molson Coors Beverage were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in shares of Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after acquiring an additional 1,600,748 shares during the period. KBC Group NV lifted its stake in Molson Coors Beverage by 269.1% during the first quarter. KBC Group NV now owns 1,237,539 shares of the company’s stock valued at $75,329,000 after purchasing an additional 902,296 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Molson Coors Beverage during the second quarter valued at approximately $38,377,000. Dimensional Fund Advisors LP lifted its stake in Molson Coors Beverage by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Molson Coors Beverage by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after purchasing an additional 595,203 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.4%

Shares of NYSE:TAP opened at $45.43 on Friday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The company has a 50 day moving average of $47.84 and a 200-day moving average of $51.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 1.67 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company earned $1.92 EPS. Molson Coors Beverage’s revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on TAP. Needham & Company LLC reduced their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Evercore ISI dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Sanford C. Bernstein dropped their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. Piper Sandler dropped their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Finally, UBS Group dropped their price target on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.62.

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.