Foundry Partners LLC Cuts Stake in Molson Coors Beverage (NYSE:TAP)

Foundry Partners LLC lessened its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,490 shares of the company’s stock after selling 38,904 shares during the quarter. Foundry Partners LLC owned about 0.05% of Molson Coors Beverage worth $7,408,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TAP. Marshall Wace LLP boosted its holdings in shares of Molson Coors Beverage by 2,089.6% during the 2nd quarter. Marshall Wace LLP now owns 2,150,603 shares of the company’s stock valued at $141,596,000 after acquiring an additional 2,052,384 shares during the last quarter. Norges Bank bought a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $83,092,000. Vanguard Group Inc. lifted its stake in shares of Molson Coors Beverage by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock worth $1,138,589,000 after purchasing an additional 1,235,013 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Molson Coors Beverage by 471.1% in the 1st quarter. Squarepoint Ops LLC now owns 593,917 shares of the company’s stock worth $30,694,000 after purchasing an additional 489,926 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Molson Coors Beverage by 57.4% in the 3rd quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock worth $78,446,000 after purchasing an additional 449,971 shares during the period. Hedge funds and other institutional investors own 73.95% of the company’s stock.

Molson Coors Beverage Stock Up 0.8 %

Shares of Molson Coors Beverage stock traded up $0.50 during trading hours on Monday, reaching $60.73. 580,526 shares of the company were exchanged, compared to its average volume of 1,479,345. Molson Coors Beverage has a 1 year low of $49.32 and a 1 year high of $70.90. The stock’s fifty day moving average is $62.13 and its 200 day moving average is $61.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 0.73. The firm has a market cap of $13.10 billion, a PE ratio of 52.37, a PEG ratio of 1.11 and a beta of 0.82.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TAP. Jefferies Financial Group began coverage on shares of Molson Coors Beverage in a research note on Monday, November 13th. They issued a “hold” rating and a $62.00 price objective on the stock. Barclays decreased their target price on shares of Molson Coors Beverage from $65.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 16th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. HSBC began coverage on shares of Molson Coors Beverage in a research note on Thursday, November 30th. They set a “hold” rating and a $68.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and set a $70.00 target price on shares of Molson Coors Beverage in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $66.27.

Read Our Latest Analysis on TAP

About Molson Coors Beverage

(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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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