Generali Asset Management SPA SGR Lowers Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Generali Asset Management SPA SGR reduced its stake in Molson Coors Beverage by 51.6% in the second quarter, selling 23,014 shares and holding 21,546 shares worth approximately $1,036,000.
• Several institutional investors, including Ameriprise Financial and KBC Group, have significantly increased their positions in Molson Coors, with Ameriprise boosting its stake by 414.3%.
• Analysts have downgraded their price targets for Molson Coors Beverage from previous estimates, with Morgan Stanley and JPMorgan both reducing their targets to $53.00.

Generali Asset Management SPA SGR lowered its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 51.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,546 shares of the company's stock after selling 23,014 shares during the quarter. Generali Asset Management SPA SGR's holdings in Molson Coors Beverage were worth $1,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TAP. Ameriprise Financial Inc. lifted its position in Molson Coors Beverage by 414.3% during the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock valued at $120,960,000 after buying an additional 1,600,748 shares during the period. KBC Group NV raised its position in shares of Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after purchasing an additional 595,203 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Molson Coors Beverage by 72.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock worth $84,024,000 after purchasing an additional 579,649 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on 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. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Evercore ISI lowered their price target 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Molson Coors Beverage in a report on Tuesday. Finally, Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $56.62.

Molson Coors Beverage Price Performance

NYSE TAP opened at $47.43 on Friday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The stock has a 50-day moving average of $48.34 and a 200 day moving average of $51.69. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.72 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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 net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. 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 year.

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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