Teacher Retirement System of Texas Has $2.95 Million Position in Molson Coors Beverage (NYSE:TAP)

Teacher Retirement System of Texas lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 227.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 48,219 shares of the company's stock after buying an additional 33,508 shares during the period. Teacher Retirement System of Texas' holdings in Molson Coors Beverage were worth $2,951,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TAP. Tennessee Valley Asset Management Partners acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at about $29,000. Stone House Investment Management LLC acquired a new position in Molson Coors Beverage during the third quarter worth approximately $32,000. Montag A & Associates Inc. purchased a new position in Molson Coors Beverage during the fourth quarter worth approximately $31,000. Allworth Financial LP boosted its holdings in shares of Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company's stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $61,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 2.1 %

Shares of Molson Coors Beverage stock traded down $1.22 during trading hours on Wednesday, hitting $56.92. 2,104,675 shares of the company's stock traded hands, compared to its average volume of 1,787,804. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The stock has a 50 day simple moving average of $64.18 and a 200-day simple moving average of $62.39. The company has a market cap of $12.06 billion, a PE ratio of 11.43, a PEG ratio of 2.12 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. Molson Coors Beverage's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TAP. Deutsche Bank Aktiengesellschaft increased their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, April 17th. Bank of America reduced their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a "neutral" rating and a $69.00 target price for the company. Barclays reduced their price target on shares of Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 2nd. Finally, UBS Group dropped their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $65.53.

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.