DekaBank Deutsche Girozentrale Grows Stock Position in Molson Coors Beverage Company $TAP

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 5.4% in the second quarter, acquiring an additional 5,750 shares worth approximately $5.28 million.
• Molson Coors reported $2.05 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.83, but its revenue declined by 1.6% from the previous year.
• Recent analysts' ratings show mixed sentiments for TAP stock, with six analysts rating it as Buy and ten as Hold, reflecting a consensus price target of $56.62.

DekaBank Deutsche Girozentrale raised its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 5.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 111,816 shares of the company's stock after buying an additional 5,750 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Molson Coors Beverage worth $5,282,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Stephens Inc. AR raised its stake in shares of Molson Coors Beverage by 1.9% during the 2nd quarter. Stephens Inc. AR now owns 20,385 shares of the company's stock valued at $980,000 after buying an additional 375 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $38,377,000. Citizens Business Bank increased its stake in shares of Molson Coors Beverage by 3.1% in the 2nd quarter. Citizens Business Bank now owns 56,145 shares of the company's stock valued at $2,700,000 after purchasing an additional 1,705 shares in the last quarter. Foster & Motley Inc. increased its stake in shares of Molson Coors Beverage by 450.4% in the 2nd quarter. Foster & Motley Inc. now owns 41,226 shares of the company's stock valued at $1,983,000 after purchasing an additional 33,736 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of Molson Coors Beverage by 0.4% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 90,625 shares of the company's stock valued at $4,358,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

TAP stock opened at $45.43 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The business has a 50 day simple moving average of $47.84 and a 200-day simple moving average of $51.18. The firm has a market capitalization of $8.98 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 1.67 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.

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

Analysts Set New Price Targets

TAP has been the subject of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Molson Coors Beverage in a research note on Tuesday, October 14th. Wells Fargo & Company cut their price objective on Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. UBS Group cut their price objective on Molson Coors Beverage from $52.00 to $49.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Piper Sandler cut their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research note on Tuesday, September 30th. Finally, Citigroup cut their price objective on Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target 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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