Aberdeen Group plc Raises Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• Aberdeen Group plc increased its stake in Molson Coors Beverage Company by 14.0%, owning approximately 191,462 shares valued at $9,207,000 by the end of the quarter.
• Molson Coors reported a EPS of $2.05 for the most recent quarter, surpassing the consensus estimate of $1.83 and showing a 1.6% year-over-year decline in revenue.
• The stock has drawn mixed sentiments from analysts, with six analysts rating it as a Buy and a consensus price target of $56.62.

Aberdeen Group plc boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,462 shares of the company's stock after purchasing an additional 23,460 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of Molson Coors Beverage worth $9,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI boosted its position in Molson Coors Beverage by 10.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 15,878 shares of the company's stock worth $764,000 after purchasing an additional 1,458 shares in the last quarter. Ulland Investment Advisors LLC boosted its position in Molson Coors Beverage by 90.4% during the second quarter. Ulland Investment Advisors LLC now owns 1,685 shares of the company's stock worth $81,000 after purchasing an additional 800 shares in the last quarter. Callan Family Office LLC boosted its position in Molson Coors Beverage by 189.0% during the second quarter. Callan Family Office LLC now owns 12,790 shares of the company's stock worth $615,000 after purchasing an additional 8,364 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Molson Coors Beverage by 3.9% during the second quarter. Vontobel Holding Ltd. now owns 228,053 shares of the company's stock worth $10,967,000 after purchasing an additional 8,604 shares in the last quarter. Finally, Fluent Financial LLC boosted its position in Molson Coors Beverage by 34.9% during the second quarter. Fluent Financial LLC now owns 91,882 shares of the company's stock worth $4,419,000 after purchasing an additional 23,746 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $46.42 on Thursday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock has a market cap of $9.18 billion, a PE ratio of 9.16, a P/E/G ratio of 1.70 and a beta of 0.63. The stock has a 50 day moving average price of $48.45 and a 200 day moving average price of $51.88.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Molson Coors Beverage in a report on Tuesday. Needham & Company LLC reduced their target price on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company reduced their target price on Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Citigroup reduced their target price on Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, October 9th. Finally, Piper Sandler reduced their target price on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a report on Tuesday, September 30th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.62.

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.

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