Lingohr Asset Management GmbH Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Lingohr Asset Management GmbH boosted its stake in Molson Coors Beverage (NYSE:TAP) by 6.1% during the 3rd quarter, Holdings Channel reports. The firm owned 12,850 shares of the company’s stock after buying an additional 734 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Molson Coors Beverage were worth $739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TAP. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage in the second quarter worth about $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $35,000. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the third quarter valued at $42,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP stock opened at $61.89 on Tuesday. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.42 and a beta of 0.82. The business’s fifty day simple moving average is $56.35 and its two-hundred day simple moving average is $54.35. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS. Analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TAP shares. Piper Sandler upped their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised 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 research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, 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.