Farther Finance Advisors LLC Increases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Farther Finance Advisors LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,720 shares of the company’s stock after purchasing an additional 182 shares during the quarter. Farther Finance Advisors LLC’s holdings in Molson Coors Beverage were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. iA Global Asset Management Inc. boosted its position in Molson Coors Beverage by 117.5% during the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after purchasing an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP raised its stake in Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after acquiring an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth $3,842,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Molson Coors Beverage by 105.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock worth $17,459,000 after acquiring an additional 132,893 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Molson Coors Beverage by 36.2% during the first quarter. Sei Investments Co. now owns 197,541 shares of the company’s stock valued at $13,285,000 after purchasing an additional 52,523 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TAP. JPMorgan Chase & Co. boosted their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays upped their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $74.00 in a research note on Friday. Piper Sandler lifted their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Stock Up 1.6 %

Molson Coors Beverage stock opened at $60.50 on Tuesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a 50 day moving average price of $55.70 and a 200-day moving average price of $54.25. The company has a market capitalization of $12.53 billion, a P/E ratio of 13.63, a P/E/G ratio of 2.60 and a beta of 0.82. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $1.92 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts predict that Molson Coors Beverage will post 5.74 EPS 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.