Brandywine Global Investment Management LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 59.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,677 shares of the company’s stock after purchasing an additional 43,537 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Molson Coors Beverage were worth $6,360,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TAP. Truist Financial Corp lifted its stake in Molson Coors Beverage by 4.9% in the first quarter. Truist Financial Corp now owns 7,361 shares of the company’s stock worth $392,000 after acquiring an additional 342 shares during the period. SG Americas Securities LLC bought a new stake in Molson Coors Beverage in the 1st quarter worth approximately $466,000. Mutual of America Capital Management LLC increased its position in shares of Molson Coors Beverage by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 24,880 shares of the company’s stock valued at $1,328,000 after purchasing an additional 260 shares during the last quarter. Arizona State Retirement System increased its position in shares of Molson Coors Beverage by 2.2% during the 1st quarter. Arizona State Retirement System now owns 53,033 shares of the company’s stock valued at $2,831,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Molson Coors Beverage by 239.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 108,976 shares of the company’s stock valued at $5,817,000 after acquiring an additional 76,883 shares during the period. 79.22% of the stock is currently owned by institutional investors.
Molson Coors Beverage Price Performance
Shares of NYSE:TAP opened at $55.27 on Thursday. The firm’s 50 day moving average is $49.97 and its two-hundred day moving average is $53.03. Molson Coors Beverage has a 52 week low of $42.60 and a 52 week high of $60.12. The firm has a market capitalization of $11.97 billion, a P/E ratio of 24.24, a PEG ratio of 3.63 and a beta of 0.84. The company has a current ratio of 0.77, a quick ratio of 0.52 and a debt-to-equity ratio of 0.45.
Molson Coors Beverage Announces Dividend
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on TAP. Wells Fargo & Company dropped their price objective on Molson Coors Beverage from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, October 3rd. Sanford C. Bernstein lowered their target price on Molson Coors Beverage to $57.00 in a report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Molson Coors Beverage from $54.00 to $52.00 in a report on Wednesday, August 3rd. Credit Suisse Group reduced their target price on Molson Coors Beverage from $49.00 to $48.00 and set an “underperform” rating on the stock in a research report on Thursday, October 27th. Finally, UBS Group upped their target price on Molson Coors Beverage from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.70.
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, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
- Get a free copy of the StockNews.com research report on Molson Coors Beverage (TAP)
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
- Three CBD Stocks to Dominate a Budding Industry
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.