Molson Coors Beverage (NYSE:TAP) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 27.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 386,384 shares of the company’s stock after selling 145,523 shares during the period. Ameriprise Financial Inc.’s holdings in Molson Coors Beverage were worth $22,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $378,000. DoubleLine ETF Adviser LP lifted its position in shares of Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after buying an additional 170 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Molson Coors Beverage during the 4th quarter valued at approximately $29,913,000. Randolph Co Inc lifted its position in shares of Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company’s stock valued at $27,352,000 after buying an additional 98,984 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its position in shares of Molson Coors Beverage by 195.0% during the 4th quarter. AdvisorShares Investments LLC now owns 13,798 shares of the company’s stock valued at $791,000 after buying an additional 9,120 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TAP shares. UBS Group decreased their target price on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Morgan Stanley decreased their target price on Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Needham & Company LLC decreased their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $62.71.

Molson Coors Beverage Stock Up 0.3%

Shares of TAP opened at $55.35 on Thursday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The company has a market capitalization of $11.21 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock has a fifty day simple moving average of $58.81 and a two-hundred day simple moving average of $58.39. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $0.95 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

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.