Molson Coors Beverage Company $TAP Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in Molson Coors Beverage Company (NYSE:TAP) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,657 shares of the company’s stock after selling 377 shares during the period. Mutual of America Capital Management LLC’s holdings in Molson Coors Beverage were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management raised its position in shares of Molson Coors Beverage by 1.4% in the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after acquiring an additional 86,601 shares during the period. Clarkston Capital Partners LLC grew its position in shares of Molson Coors Beverage by 0.7% during the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock valued at $277,154,000 after acquiring an additional 33,535 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.0% in the 1st 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 raised its holdings in Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock worth $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Deutsche Bank AG raised its holdings in Molson Coors Beverage by 24.2% in the 1st quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock worth $170,265,000 after purchasing an additional 544,353 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Citigroup cut their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Sanford C. Bernstein decreased their price objective 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. Needham & Company LLC dropped their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average price target of $56.62.

Molson Coors Beverage Trading Down 0.3%

Shares of Molson Coors Beverage stock opened at $45.30 on Tuesday. The stock has a 50 day moving average of $47.72 and a 200 day moving average of $50.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.66 and a beta of 0.63. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

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

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.