Private Management Group Inc. Has $32.08 Million Stake in Molson Coors Beverage (NYSE:TAP)

by · The Markets Daily

Private Management Group Inc. lifted its position in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557,742 shares of the company’s stock after buying an additional 29,294 shares during the period. Molson Coors Beverage comprises about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 26th largest holding. Private Management Group Inc. owned 0.26% of Molson Coors Beverage worth $32,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the period. Focus Financial Network Inc. raised its holdings in Molson Coors Beverage by 7.0% in the 3rd quarter. Focus Financial Network Inc. now owns 4,276 shares of the company’s stock valued at $246,000 after buying an additional 280 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Molson Coors Beverage by 14.4% in the third quarter. Stephens Inc. AR now owns 18,240 shares of the company’s stock worth $1,049,000 after purchasing an additional 2,300 shares during the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Molson Coors Beverage by 149.1% in the third quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock valued at $21,652,000 after buying an additional 225,296 shares during the period. Finally, US Bancorp DE lifted its position in shares of Molson Coors Beverage by 19.9% in the 3rd quarter. US Bancorp DE now owns 9,460 shares of the company’s stock worth $544,000 after purchasing an additional 1,569 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.0 %

Molson Coors Beverage stock traded up $0.53 during mid-day trading on Friday, reaching $55.00. 1,736,545 shares of the company were exchanged, compared to its average volume of 1,894,801. The business has a fifty day moving average of $55.25 and a 200 day moving average of $54.64. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The firm has a market cap of $11.39 billion, a P/E ratio of 10.07, a PEG ratio of 2.42 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates 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 revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. Research analysts anticipate that Molson Coors Beverage will post 5.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group increased their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Bank of America lowered their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Piper Sandler lifted their price target on 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, Barclays raised their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.43.

Check Out Our Latest Analysis on Molson Coors Beverage

Molson Coors Beverage Company Profile

(Free Report)

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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