Metis Global Partners LLC Has $728,000 Holdings in Molson Coors Beverage Company $TAP

Metis Global Partners LLC lowered its position in Molson Coors Beverage Company (NYSE:TAP) by 6.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,141 shares of the company’s stock after selling 1,096 shares during the period. Metis Global Partners LLC’s holdings in Molson Coors Beverage were worth $728,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TAP. Nuveen LLC acquired a new position in shares of Molson Coors Beverage in the 1st quarter valued at about $22,253,000. Jump Financial LLC increased its holdings in Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,349 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Molson Coors Beverage by 32.8% in the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock worth $28,424,000 after purchasing an additional 115,186 shares in the last quarter. Nordea Investment Management AB lifted its stake in Molson Coors Beverage by 81.9% in the second quarter. Nordea Investment Management AB now owns 674,214 shares of the company’s stock valued at $32,416,000 after buying an additional 303,602 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Molson Coors Beverage by 2.3% during the 1st quarter. LPL Financial LLC now owns 734,173 shares of the company’s stock worth $44,689,000 after buying an additional 16,581 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.7%

TAP stock opened at $47.16 on Wednesday. The stock has a market cap of $9.32 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $46.34 and its two-hundred day simple moving average is $49.80. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TAP shares. The Goldman Sachs Group dropped their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Wells Fargo & Company dropped their price objective on shares of Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Sanford C. Bernstein reduced their target price on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Piper Sandler dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Finally, Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $54.56.

Insiders Place Their Bets

In related news, Director David S. Coors bought 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the purchase, the director directly owned 30,586 shares in the company, valued at $1,360,159.42. The trade was a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.71% of the stock is currently owned by insiders.

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.