Ontario Teachers Pension Plan Board Takes $845,000 Position in Molson Coors Beverage Company $TAP

Ontario Teachers Pension Plan Board bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,568 shares of the company’s stock, valued at approximately $845,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $22,253,000. Jump Financial LLC raised its stake in Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,349 shares during the period. Hsbc Holdings PLC raised its stake in Molson Coors Beverage by 32.8% in the 1st 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 period. Nordea Investment Management AB lifted its holdings in Molson Coors Beverage by 81.9% during the 2nd quarter. Nordea Investment Management AB now owns 674,214 shares of the company’s stock valued at $32,416,000 after purchasing an additional 303,602 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Molson Coors Beverage by 2.3% during the first quarter. LPL Financial LLC now owns 734,173 shares of the company’s stock worth $44,689,000 after purchasing an additional 16,581 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TAP. Wells Fargo & Company dropped their price objective on shares of Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Tuesday, November 11th. Roth Capital reissued a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Morgan Stanley cut their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $54.56.

Molson Coors Beverage Trading Down 1.7%

Shares of TAP stock opened at $45.66 on Tuesday. The stock has a market cap of $9.02 billion, a P/E ratio of 9.01, 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 current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $46.04 and a 200 day simple moving average of $49.50.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data 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 company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Insider Transactions at Molson Coors Beverage

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

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.