Molson Coors Beverage (NYSE:TAP) is AM Squared Ltd’s 8th Largest Position

AM Squared Ltd lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 54.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the company’s stock after selling 8,900 shares during the period. Molson Coors Beverage makes up approximately 1.0% of AM Squared Ltd’s portfolio, making the stock its 8th largest position. AM Squared Ltd’s holdings in Molson Coors Beverage were worth $431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter valued at approximately $42,000. Natixis Advisors LLC raised its holdings in shares of Molson Coors Beverage by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 39,687 shares of the company’s stock valued at $2,283,000 after purchasing an additional 6,723 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. CIBC Asset Management Inc now owns 31,049 shares of the company’s stock valued at $1,786,000 after purchasing an additional 1,388 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Molson Coors Beverage by 36.5% in the 3rd quarter. Metis Global Partners LLC now owns 16,704 shares of the company’s stock valued at $961,000 after purchasing an additional 4,469 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Molson Coors Beverage by 27.3% in the 3rd quarter. Huntington National Bank now owns 1,508 shares of the company’s stock valued at $87,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.5 %

NYSE TAP opened at $62.42 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $12.93 billion, a PE ratio of 14.06, a P/E/G ratio of 2.42 and a beta of 0.82. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm’s fifty day moving average is $56.23 and its two-hundred day moving average is $54.34.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 earnings per share. Analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of analyst reports. UBS Group raised their price objective 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 upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $60.31.

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.