Swedbank AB Sells 640 Shares of Molson Coors Beverage (NYSE:TAP)

Swedbank AB lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 97,654 shares of the company’s stock after selling 640 shares during the quarter. Swedbank AB’s holdings in Molson Coors Beverage were worth $5,617,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the second quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $43,000. Finally, Quarry LP bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $54,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Citigroup dropped their target price on 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. UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.43.

Molson Coors Beverage Stock Down 0.1 %

Shares of Molson Coors Beverage stock opened at $56.00 on Friday. 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 market cap of $11.86 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.35 and a beta of 0.81. The firm’s 50-day moving average is $54.78 and its two-hundred day moving average is $55.44. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. As a group, research analysts expect that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

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.