Oldfield Partners LLP Increases Holdings in Molson Coors Beverage (NYSE:TAP)

by · The Markets Daily

Oldfield Partners LLP raised its stake in Molson Coors Beverage (NYSE:TAP – Free Report) by 24.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,200 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Molson Coors Beverage makes up approximately 0.1% of Oldfield Partners LLP’s investment portfolio, making the stock its 25th largest position. Oldfield Partners LLP’s holdings in Molson Coors Beverage were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter worth about $27,000. GPS Wealth Strategies Group LLC raised its holdings in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after buying an additional 294 shares during the period. Crewe Advisors LLC acquired a new position in Molson Coors Beverage in the first quarter valued at about $43,000. Finally, Quarry LP purchased a new position in Molson Coors Beverage during the second quarter worth about $54,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $55.72 on Tuesday. The company’s fifty day moving average price is $54.86 and its 200 day moving average price is $55.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm has a market capitalization of $11.81 billion, a P/E ratio of 11.14, a P/E/G ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the business earned $1.78 EPS. Molson Coors Beverage’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TAP has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. TD Cowen reduced their target price 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, Wells Fargo & Company boosted their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.43.

View Our Latest Research Report on Molson Coors Beverage

Molson Coors Beverage Profile

(Free Report)

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.

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