Vanguard Group Inc. reduced its stake in Molson Coors Beverage Company (NYSE:TAP) selling 87,388 shares. Despite this, TAP remains a favourite among large investors with institutional ownership at a significant 78-82%. The company has increased its collaboration with The Coca-Cola Company, launching TOPO. Additionally, it's initiating new plans for growth acceleration and divulging long-term financial outlook – part of its proactive strategies. Concurrently, it shared reports on its Q1, Q4 and full- year results for both 2023 and 2024. Goldman Sachs Group Inc. maintains a solid $85.48 million position, in addition to acquiring more TAP shares – seemingly unperturbed by the 5.6% drop in TAP's value since the last earning report. On the other hand, Molson Coors' Cl B stock fell and underperformed in the overall market. Factoring in new entrants such as Stephens Inc. AR and Raleigh Capital Management Inc. acquiring TAP shares, GAMMA Investing LLC increasing its stake, and HSBC's maintaining a hold rating on TAP, it's apparent that Molson Coors is still seen as an investment opportunity. In the horizon, Molson Coors is releasing new products and drinks such as partnering with Rick Martinez for TOPO CHICO HARD SELTZER and introducing limited-edition Orange Cream Pop Flavor. Importantly, Molson Coors and Yuengling formed a joint venture to expand their offerings.
Molson Coors Beverage Company Class B TAP News Analytics from Sat, 07 Jul 2018 07:00:00 GMT to Sun, 23 Jun 2024 04:53:06 GMT -
Rating 1
- Innovation -2
- Information 8
- Rumor -5
