Molson Coors Beverage Company $TAP Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 68.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,252 shares of the company’s stock after purchasing an additional 2,546 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Molson Coors Beverage were worth $301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TAP. Golden State Wealth Management LLC grew its stake in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC grew its stake in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Elequin Capital LP acquired a new position in Molson Coors Beverage during the 1st quarter worth $30,000. Eastern Bank acquired a new position in Molson Coors Beverage during the 1st quarter worth $33,000. Finally, Geneos Wealth Management Inc. grew its stake in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of recent analyst reports. Barclays reaffirmed an “underweight” rating and set a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Citigroup decreased their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Finally, Piper Sandler decreased their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.62.

Molson Coors Beverage Stock Up 0.1%

Molson Coors Beverage stock opened at $46.60 on Thursday. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market capitalization of $9.21 billion, a P/E ratio of 9.19, a PEG ratio of 1.70 and a beta of 0.63. The stock has a 50-day simple moving average of $48.07 and a 200-day simple moving average of $51.37.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.22. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share 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.