US Bancorp DE Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

US Bancorp DE lifted its stake in Molson Coors Beverage (NYSE:TAP) by 19.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,460 shares of the company’s stock after buying an additional 1,569 shares during the period. US Bancorp DE’s holdings in Molson Coors Beverage were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Family Firm Inc. purchased a new position in shares of Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage during the 2nd quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its position 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 during the period. Crewe Advisors LLC purchased a new stake in Molson Coors Beverage in the first quarter valued at approximately $43,000. Finally, Quarry LP purchased a new stake in Molson Coors Beverage in the second quarter valued at approximately $54,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP opened at $59.56 on Monday. The stock’s 50 day simple moving average is $55.57 and its 200 day simple moving average is $54.27. The stock has a market cap of $12.34 billion, a P/E ratio of 10.91, a P/E/G ratio of 2.47 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.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. The company’s revenue was down 7.8% on a year-over-year basis. During the same period last year, the company posted $1.92 EPS. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday. Finally, Piper Sandler boosted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $60.15.

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.