M&G Plc Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

M&G Plc raised its position in Molson Coors Beverage (NYSE:TAP) by 18.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,093 shares of the company’s stock after buying an additional 50,715 shares during the period. M&G Plc owned about 0.15% of Molson Coors Beverage worth $18,797,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Molson Coors Beverage by 11.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the period. Perpetual Ltd raised its stake in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares during the period. Empirical Finance LLC raised its stake in shares of Molson Coors Beverage by 3.5% during the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after buying an additional 226 shares during the period. William Blair Investment Management LLC lifted its position in shares of Molson Coors Beverage by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 6,989 shares of the company’s stock valued at $470,000 after buying an additional 266 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in Molson Coors Beverage by 1.8% in the 2nd quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after acquiring an additional 274 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $56.72 on Friday. The company has a market cap of $11.75 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.43 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The stock has a 50-day moving average of $55.46 and a two-hundred day moving average of $54.43.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts anticipate that Molson Coors Beverage will post 5.71 EPS for the current year.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. TD Cowen decreased their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Piper Sandler boosted their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group raised their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $58.62.

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.