AlTi Global Inc. Acquires 16,011 Shares of Molson Coors Beverage Company $TAP

Key Points

• AlTi Global Inc. increased its stake in Molson Coors Beverage Company by 19.0%, acquiring an additional 16,011 shares, bringing its total holdings to 100,074 shares valued at approximately $4.9 million.
• Despite a decline in quarterly revenue of 1.6% year-over-year, Molson Coors surpassed earnings expectations with $2.05 EPS compared to the anticipated $1.83 EPS.
• Analysts have recently lowered target prices for Molson Coors, with Citigroup setting a new target of $49.00 and Morgan Stanley adjusting its target to $53.00, maintaining a "neutral" and "equal weight" rating respectively.

AlTi Global Inc. raised its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 19.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,074 shares of the company's stock after purchasing an additional 16,011 shares during the period. AlTi Global Inc.'s holdings in Molson Coors Beverage were worth $4,899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Forum Financial Management LP boosted its holdings in Molson Coors Beverage by 17.1% in the 2nd quarter. Forum Financial Management LP now owns 6,452 shares of the company's stock valued at $310,000 after purchasing an additional 941 shares during the period. FNY Investment Advisers LLC bought a new stake in Molson Coors Beverage in the 2nd quarter valued at about $240,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Molson Coors Beverage in the 2nd quarter valued at about $226,000. DekaBank Deutsche Girozentrale boosted its holdings in Molson Coors Beverage by 5.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 111,816 shares of the company's stock valued at $5,282,000 after purchasing an additional 5,750 shares during the period. Finally, Stephens Inc. AR boosted its holdings in Molson Coors Beverage by 1.9% in the 2nd quarter. Stephens Inc. AR now owns 20,385 shares of the company's stock valued at $980,000 after purchasing an additional 375 shares during the period. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

TAP stock opened at $45.68 on Friday. The company has a 50 day simple moving average of $47.96 and a 200 day simple moving average of $51.27. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 1.70 and a beta of 0.63. Molson Coors Beverage Company has a 1 year low of $43.80 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The business 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 firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TAP. Citigroup dropped their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, October 9th. Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, October 2nd. Needham & Company LLC dropped their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and a consensus target price of $56.62.

About Molson Coors Beverage

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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