Allianz Asset Management GmbH Trims Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Allianz Asset Management GmbH reduced its holdings in Molson Coors Beverage Company by 15.7%, selling 13,805 shares during the second quarter, bringing its total shares to 74,095 valued at $3,563,000.
• Various institutional investors have adjusted their positions in Molson Coors, with Golden State Wealth Management increasing its stake by 230.2% in the 1st quarter.
• Molson Coors reported a quarterly EPS of $2.05, surpassing analyst expectations, despite a 1.6% decline in revenue compared to the previous year.

Allianz Asset Management GmbH cut its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,095 shares of the company's stock after selling 13,805 shares during the period. Allianz Asset Management GmbH's holdings in Molson Coors Beverage were worth $3,563,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after acquiring an additional 290 shares during the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $30,000. Eastern Bank acquired a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $33,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after acquiring an additional 198 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 2.0%

Shares of TAP stock opened at $45.68 on Friday. 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 capitalization of $9.03 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.63. The company has a 50 day moving average price of $47.96 and a 200 day moving average price of $51.27. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TAP shares. Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Citigroup decreased their price objective on shares of Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, October 9th. Barclays restated an "underweight" rating and issued a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $56.62.

Molson Coors Beverage Company 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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