Landscape Capital Management L.L.C. Purchases New Position in Molson Coors Beverage (NYSE:TAP)

Landscape Capital Management L.L.C. bought a new position in shares of Molson Coors Beverage (NYSE:TAP) during the third quarter, Holdings Channel.com reports. The fund bought 30,517 shares of the company’s stock, valued at approximately $1,755,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TAP. iA Global Asset Management Inc. lifted its holdings in shares of Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after acquiring an additional 17,062 shares during the period. Wakefield Asset Management LLLP lifted its stake in shares of Molson Coors Beverage by 124.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after purchasing an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $3,842,000. Bessemer Group Inc. raised its holdings in Molson Coors Beverage by 390.1% in the first quarter. Bessemer Group Inc. now owns 32,612 shares of the company’s stock valued at $2,193,000 after buying an additional 25,958 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Molson Coors Beverage by 28.5% during the first quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company’s stock valued at $20,895,000 after buying an additional 68,900 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TAP shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Barclays raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $60.31.

Molson Coors Beverage Trading Up 0.1 %

Molson Coors Beverage stock opened at $60.47 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm’s 50-day moving average is $56.73 and its 200-day moving average is $54.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market cap of $12.46 billion, a P/E ratio of 13.62, a PEG ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

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.