Louisiana State Employees Retirement System Sells 400 Shares of Molson Coors Beverage (NYSE:TAP)

Louisiana State Employees Retirement System decreased its position in Molson Coors Beverage (NYSE:TAP) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,900 shares of the company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Molson Coors Beverage were worth $569,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. bought a new position in Molson Coors Beverage in the second quarter valued at about $26,000. Altshuler Shaham Ltd bought a new position in Molson Coors Beverage in the second quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the period. Crewe Advisors LLC bought a new position in Molson Coors Beverage in the first quarter valued at about $43,000. Finally, Quarry LP bought a new position in Molson Coors Beverage in the second quarter valued at about $54,000. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TAP shares. Barclays increased their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. UBS Group increased their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler increased their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.43.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $55.98 on Wednesday. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.39 and a beta of 0.82. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The business has a 50 day simple moving average of $55.28 and a 200-day simple moving average of $54.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. Equities analysts forecast that Molson Coors Beverage will post 5.71 EPS for the current year.

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.