Ethic Inc. Has $2.17 Million Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Ethic Inc. has reduced its stake in Molson Coors Beverage Company by 21.4%, now holding $2.17 million worth of shares after selling 12,493 shares in Q2.
• Multiple institutional investors have increased their holdings, with Golden State Wealth Management growing its stake by 230.2% in the first quarter.
• Molson Coors reported $2.05 EPS for the last quarter, exceeding expectations, but its revenue declined by 1.6% year-over-year.

Ethic Inc. lowered its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 21.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,789 shares of the company's stock after selling 12,493 shares during the quarter. Ethic Inc.'s holdings in Molson Coors Beverage were worth $2,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its holdings in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC grew its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $30,000. Eastern Bank acquired a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $33,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage 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 company 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 one year low of $43.80 and a one year high of $64.66. The business has a 50 day simple moving average of $47.84 and a 200 day simple moving average of $51.18.

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

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $65.00 to $50.00 in a report on Friday, June 27th. UBS Group decreased their price objective on Molson Coors Beverage from $52.00 to $49.00 and set a "neutral" rating on the stock in a report on Wednesday, October 8th. Citigroup decreased their price objective on Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, October 9th. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, September 30th. Finally, Evercore ISI cut their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.