Thompson Siegel & Walmsley LLC Buys Shares of 838,007 Molson Coors Beverage (NYSE:TAP)

Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 838,007 shares of the company’s stock, valued at approximately $48,202,000. Thompson Siegel & Walmsley LLC owned approximately 0.40% of Molson Coors Beverage as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage in the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the third quarter worth approximately $35,000. Crewe Advisors LLC purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at $43,000. Finally, GPS Wealth Strategies Group LLC grew its holdings in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $60.38 on Thursday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $56.60 and its two-hundred day moving average price is $54.42. The stock has a market cap of $12.44 billion, a PE ratio of 13.60, a price-to-earnings-growth 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Barclays raised their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price target 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 boosted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen decreased their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $60.31.

Molson Coors Beverage Company 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.