19,119 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Aurora Investment Counsel

Aurora Investment Counsel acquired a new position in Molson Coors Beverage (NYSE:TAP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,119 shares of the company’s stock, valued at approximately $1,100,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its position in shares of Molson Coors Beverage by 117.5% in the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after buying an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP increased its stake in Molson Coors Beverage by 124.5% in the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after acquiring an additional 29,552 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Molson Coors Beverage in the second quarter valued at $3,842,000. Bessemer Group Inc. increased its stake in Molson Coors Beverage by 390.1% in the first quarter. Bessemer Group Inc. now owns 32,612 shares of the company’s stock valued at $2,193,000 after acquiring an additional 25,958 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Molson Coors Beverage by 28.5% in the first quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company’s stock valued at $20,895,000 after acquiring an additional 68,900 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

NYSE:TAP opened at $60.38 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market cap of $12.44 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The company has a 50 day simple moving average of $56.60 and a two-hundred day simple moving average of $54.42.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The firm’s revenue was down 7.8% on a year-over-year basis. Research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the company from $52.00 to $74.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler increased their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage 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.