Deutsche Bank AG Lowers Position in Molson Coors Beverage (NYSE:TAP)

Deutsche Bank AG lessened its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,252,836 shares of the company's stock after selling 44,403 shares during the period. Deutsche Bank AG owned about 1.09% of Molson Coors Beverage worth $129,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DoubleLine ETF Adviser LP increased its stake in shares of Molson Coors Beverage by 1.7% in the fourth 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 during the period. Pallas Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after buying an additional 199 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after buying an additional 202 shares during the period. Truvestments Capital LLC increased its stake in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on TAP shares. Morgan Stanley reduced their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Needham & Company LLC dropped their price target on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $62.71.

Molson Coors Beverage Stock Up 0.4%

Shares of NYSE:TAP traded up $0.22 during trading on Friday, reaching $56.49. 946,670 shares of the stock were exchanged, compared to its average volume of 2,362,698. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The stock has a fifty day moving average of $58.68 and a two-hundred day moving average of $58.39. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share 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 firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $0.95 earnings per share. Molson Coors Beverage's revenue for the quarter was down 11.3% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

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, 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.