Allspring Global Investments Holdings LLC Decreases Stock Holdings in Molson Coors Beverage Company $TAP

Allspring Global Investments Holdings LLC lowered its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 35.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,610 shares of the company’s stock after selling 4,161 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Molson Coors Beverage were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. LSV Asset Management boosted its holdings in Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after buying an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC boosted its holdings in Molson Coors Beverage by 0.7% during the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock worth $277,154,000 after buying an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after purchasing an additional 595,203 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock valued at $170,265,000 after purchasing an additional 544,353 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $45.43 on Friday. The firm has a 50 day simple moving average of $47.84 and a 200-day simple moving average of $51.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market cap of $8.98 billion, a PE ratio of 8.96, a P/E/G ratio of 1.67 and a beta of 0.63. Molson Coors Beverage Company has a 1-year low of $43.80 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.22. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. Citigroup reduced their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, September 30th. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, July 9th. Finally, Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.62.

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.