Claro Advisors LLC Makes New $283,000 Investment in Molson Coors Beverage (NYSE:TAP)

Claro Advisors LLC purchased a new position in Molson Coors Beverage (NYSE:TAP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,924 shares of the company’s stock, valued at approximately $283,000.

Other hedge funds have also modified their holdings of the company. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the second quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage in the second quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage in the third quarter worth approximately $35,000. Crewe Advisors LLC bought a new position in shares of Molson Coors Beverage in the first quarter worth approximately $43,000. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TAP has been the topic of several research analyst reports. TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Barclays boosted their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Trading Down 0.8 %

Shares of TAP opened at $61.89 on Tuesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a market cap of $12.82 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.42 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $56.35 and its 200-day simple moving average is $54.35.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, analysts expect that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage 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.