Gladius Capital Management LP Takes $42,000 Position in Molson Coors Beverage (NYSE:TAP)

Gladius Capital Management LP bought a new position in Molson Coors Beverage (NYSE:TAP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 725 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Avantax Advisory Services Inc. purchased a new position in Molson Coors Beverage during the 1st quarter valued at about $254,000. Kingsview Wealth Management LLC acquired a new position in Molson Coors Beverage in the 1st quarter valued at approximately $219,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Molson Coors Beverage by 105.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock valued at $17,459,000 after buying an additional 132,893 shares during the period. Intech Investment Management LLC lifted its position in Molson Coors Beverage by 111.8% in the 1st quarter. Intech Investment Management LLC now owns 43,132 shares of the company’s stock worth $2,901,000 after buying an additional 22,770 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Molson Coors Beverage by 3.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 199,296 shares of the company’s stock valued at $13,403,000 after buying an additional 6,864 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. 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 note on Friday, October 18th. TD Cowen lowered their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Finally, UBS Group increased 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Price Performance

NYSE TAP opened at $62.42 on Friday. The stock has a market capitalization of $12.93 billion, a PE ratio of 14.06, a P/E/G ratio of 2.42 and a beta of 0.82. The stock has a 50-day simple moving average of $56.23 and a 200 day simple moving average of $54.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18.

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

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.