Capital Performance Advisors LLP Invests $111,000 in Molson Coors Beverage (NYSE:TAP)

Capital Performance Advisors LLP purchased a new position in Molson Coors Beverage (NYSE:TAP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,931 shares of the company’s stock, valued at approximately $111,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after buying an additional 182 shares during the period. Perpetual Ltd raised its holdings in shares of Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares during the period. Empirical Finance LLC raised its holdings in shares of Molson Coors Beverage by 3.5% in the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after buying an additional 226 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Molson Coors Beverage by 4.0% in the first quarter. William Blair Investment Management LLC now owns 6,989 shares of the company’s stock worth $470,000 after buying an additional 266 shares during the period. Finally, SkyView Investment Advisors LLC raised its holdings in shares of Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock worth $768,000 after buying an additional 274 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $59.57 on Friday. The firm has a market capitalization of $12.34 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 2.43 and a beta of 0.82. 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 stock’s 50-day simple moving average is $55.57 and its 200-day simple moving average is $54.40. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. As a group, equities analysts forecast that Molson Coors Beverage will post 5.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TAP. UBS Group raised their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Barclays raised their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group cut their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $60.15.

Molson Coors Beverage 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.