Asset Management One Co. Ltd. Sells 683 Shares of Molson Coors Beverage Company $TAP

Asset Management One Co. Ltd. lessened its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,573 shares of the company’s stock after selling 683 shares during the period. Asset Management One Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings 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 acquiring an additional 290 shares during the period. Millstone Evans Group LLC increased its holdings 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 acquiring an additional 255 shares during the period. Elequin Capital LP bought a new stake in Molson Coors Beverage during the 1st quarter worth approximately $30,000. Eastern Bank bought a new stake in Molson Coors Beverage during the 1st quarter worth approximately $33,000. Finally, Geneos Wealth Management Inc. increased its holdings 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 acquiring an additional 198 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Needham & Company LLC cut their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Citigroup cut their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Finally, Morgan Stanley cut their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. 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, the stock presently has an average rating of “Hold” and a consensus price target of $56.62.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $43.50 on Thursday. Molson Coors Beverage Company has a 52-week low of $43.47 and a 52-week high of $64.66. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.66 and a beta of 0.63. The company has a fifty day moving average of $47.44 and a 200-day moving average of $50.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. 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 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.