D.A. Davidson & CO. Decreases Holdings in Molson Coors Beverage Company $TAP

D.A. Davidson & CO. trimmed its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 69.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,230 shares of the company’s stock after selling 9,648 shares during the period. D.A. Davidson & CO.’s holdings in Molson Coors Beverage were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in shares of Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after acquiring an additional 30,463 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Molson Coors Beverage during the first quarter valued at about $22,253,000. Jump Financial LLC increased its position in shares of Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,349 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Molson Coors Beverage by 7.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,606 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Molson Coors Beverage by 32.8% during the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after acquiring an additional 115,186 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $43.76 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The stock has a market capitalization of $8.65 billion, a P/E ratio of 8.63, a P/E/G ratio of 1.60 and a beta of 0.63. The company’s fifty day moving average is $47.10 and its two-hundred day moving average is $50.57.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays reissued an “underweight” rating and issued a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Citigroup lowered their price objective on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Piper Sandler lowered their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Jefferies Financial Group lowered their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Finally, UBS Group lowered their price objective on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.62.

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.