Mediolanum International Funds Ltd Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Mediolanum International Funds Ltd acquired a new stake in Molson Coors Beverage (NYSE:TAP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,466 shares of the company’s stock, valued at approximately $594,000.

Several other hedge funds also recently modified their holdings of TAP. Pacer Advisors Inc. increased its stake in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares in the last quarter. Capital International Investors increased its stake in shares of Molson Coors Beverage by 10.7% in the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after acquiring an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Molson Coors Beverage in the 1st quarter valued at $53,096,000. Millennium Management LLC increased its stake in shares of Molson Coors Beverage by 541.4% in the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after acquiring an additional 645,847 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after acquiring an additional 434,685 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP opened at $55.77 on Monday. The firm’s fifty day moving average price is $55.08 and its two-hundred day moving average price is $54.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, analysts anticipate that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. UBS Group lifted their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.43.

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.