Nordea Investment Management AB Purchases 303,602 Shares of Molson Coors Beverage Company $TAP

Key Points

• Nordea Investment Management AB increased its holdings in Molson Coors Beverage Company by 81.9% during the second quarter, now owning a total of 674,214 shares valued at approximately $32.4 million.
• Various other institutional investors, including Golden State Wealth Management and Millstone Evans Group, also boosted their stakes in Molson Coors, reflecting growing interest in the company's stock.
• Recent analyst ratings suggest a decrease in target prices for Molson Coors, with notable cuts from firms like Needham & Company and Wells Fargo, indicating a generally cautious outlook amidst a recent earnings report that beat estimates.

Nordea Investment Management AB boosted its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 81.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674,214 shares of the company's stock after acquiring an additional 303,602 shares during the period. Nordea Investment Management AB owned 0.33% of Molson Coors Beverage worth $32,416,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TAP. Golden State Wealth Management LLC boosted its holdings in Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares during the last quarter. Elequin Capital LP bought a new stake in Molson Coors Beverage in the first quarter valued at approximately $30,000. Eastern Bank bought a new stake in Molson Coors Beverage in the first quarter valued at approximately $33,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after acquiring an additional 198 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC reduced their target price on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company cut their price target on Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group cut their price target 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. UBS Group cut their price target 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. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. 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, the stock has an average rating of "Hold" and an average price target of $56.62.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $47.43 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve month high of $64.66. The stock's 50 day moving average is $48.34 and its 200-day moving average is $51.61. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.73 and a beta of 0.63.

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