AMG National Trust Bank Has $18.12 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

AMG National Trust Bank raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,038 shares of the company’s stock after acquiring an additional 2,389 shares during the period. AMG National Trust Bank owned approximately 0.15% of Molson Coors Beverage worth $18,121,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TAP. Farther Finance Advisors LLC increased its holdings in Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares during the period. Perpetual Ltd boosted its position in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Molson Coors Beverage by 1.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock worth $768,000 after purchasing an additional 274 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Molson Coors Beverage by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after acquiring an additional 277 shares during the last quarter. Finally, Focus Financial Network Inc. raised its holdings in shares of Molson Coors Beverage by 7.0% in the 3rd quarter. Focus Financial Network Inc. now owns 4,276 shares of the company’s stock worth $246,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TAP. Piper Sandler raised their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Barclays boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. TD Cowen dropped their price target on shares of 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. Finally, UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Trading Down 0.5 %

NYSE TAP opened at $62.42 on Monday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company’s 50-day simple moving average is $56.23 and its two-hundred day simple moving average is $54.32.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for 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 company’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.92 EPS. Equities analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal 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.