Metis Global Partners LLC Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

Metis Global Partners LLC lifted its stake in Molson Coors Beverage (NYSE:TAP) by 36.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,704 shares of the company’s stock after buying an additional 4,469 shares during the period. Metis Global Partners LLC’s holdings in Molson Coors Beverage were worth $961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. iA Global Asset Management Inc. grew its stake in Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after buying an additional 17,062 shares during the last quarter. Wakefield Asset Management LLLP increased its stake in Molson Coors Beverage by 124.5% in the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after purchasing an additional 29,552 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Molson Coors Beverage in the second quarter valued at about $3,842,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Molson Coors Beverage by 105.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock worth $17,459,000 after buying an additional 132,893 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Molson Coors Beverage by 390.1% during the first quarter. Bessemer Group Inc. now owns 32,612 shares of the company’s stock worth $2,193,000 after buying an additional 25,958 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Piper Sandler lifted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 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 boosted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Two equities research 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.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.31.

Molson Coors Beverage Stock Down 0.5 %

Shares of NYSE TAP opened at $62.42 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a market capitalization of $12.93 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The firm’s 50-day moving average is $56.23 and its two-hundred day moving average is $54.32.

Molson Coors Beverage (NYSE:TAP) last released its quarterly 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. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $1.92 earnings per share. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. Equities analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current fiscal 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.