Blue Trust Inc. Raises Stake in Molson Coors Beverage (NYSE:TAP)

Blue Trust Inc. lifted its stake in Molson Coors Beverage (NYSE:TAP) by 63.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,951 shares of the company’s stock after buying an additional 1,144 shares during the quarter. Blue Trust Inc.’s holdings in Molson Coors Beverage were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Claro Advisors LLC purchased a new position in shares of Molson Coors Beverage in the third quarter worth $1,799,000. V Square Quantitative Management LLC raised its stake in Molson Coors Beverage by 7.5% during the third quarter. V Square Quantitative Management LLC now owns 5,344 shares of the company’s stock valued at $307,000 after purchasing an additional 371 shares in the last quarter. Randolph Co Inc purchased a new stake in Molson Coors Beverage during the third quarter valued at $21,754,000. Inlet Private Wealth LLC raised its stake in Molson Coors Beverage by 4.7% during the third quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock valued at $2,748,000 after purchasing an additional 2,150 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Molson Coors Beverage by 16.1% during the third quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock valued at $7,177,000 after purchasing an additional 17,285 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Bank of America cut their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.43.

Molson Coors Beverage Trading Down 0.6 %

NYSE TAP opened at $55.77 on Friday. The company’s 50-day moving average price is $55.08 and its 200-day moving average price is $54.95. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.82 billion, a PE ratio of 11.15, a PEG ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (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 analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. Equities research analysts forecast that Molson Coors Beverage will post 5.74 earnings per share 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.