Molson Coors Beverage (NYSE:TAP) Shares Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 4.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 47,770 shares of the company’s stock after buying an additional 2,150 shares during the period. Inlet Private Wealth LLC’s holdings in Molson Coors Beverage were worth $2,748,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TAP. Czech National Bank raised its position in shares of Molson Coors Beverage by 0.5% in the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after purchasing an additional 149 shares in the last quarter. Perpetual Ltd boosted its stake in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares during the last quarter. Empirical Finance LLC grew its holdings in Molson Coors Beverage by 3.5% during the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after acquiring an additional 226 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Molson Coors Beverage by 1.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock worth $1,000,000 after purchasing an additional 231 shares during the last quarter. Finally, Affinity Investment Advisors LLC raised its stake in shares of Molson Coors Beverage by 2.9% in the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after purchasing an additional 246 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.5 %

Molson Coors Beverage stock traded up $0.30 during trading hours on Thursday, hitting $56.40. The company had a trading volume of 269,899 shares, compared to its average volume of 1,918,268. The firm’s fifty day moving average is $54.66 and its 200-day moving average is $55.52. 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 has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $11.95 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. On average, research analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on TAP. Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. TD Cowen cut their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Barclays upped their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company upped their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Finally, Bank of America reduced their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.21.

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.