Molson Coors Beverage (NYSE:TAP) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in Molson Coors Beverage (NYSE:TAP) by 5.3% in the third quarter, HoldingsChannel reports. The fund owned 111,816 shares of the company’s stock after purchasing an additional 5,661 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Molson Coors Beverage were worth $6,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage in the 2nd quarter worth approximately $27,000. Crewe Advisors LLC acquired a new stake in Molson Coors Beverage during the first quarter valued at approximately $43,000. GPS Wealth Strategies Group LLC boosted its holdings in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after buying an additional 294 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Molson Coors Beverage by 153.7% in the first quarter. Geneos Wealth Management Inc. now owns 982 shares of the company’s stock worth $66,000 after buying an additional 595 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 1.8 %

Molson Coors Beverage stock opened at $54.48 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.95 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’s fifty day simple moving average is $55.21 and its 200-day simple moving average is $54.71. The stock has a market cap of $11.29 billion, a P/E ratio of 9.98, a P/E/G ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued 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. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TAP has been the subject of several research reports. Jefferies Financial Group reduced their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price target on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $59.43.

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.