Oppenheimer Asset Management Inc. Reduces Stock Position in Molson Coors Beverage Company $TAP

Oppenheimer Asset Management Inc. cut its stake in Molson Coors Beverage Company (NYSE:TAP) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,914 shares of the company’s stock after selling 4,435 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Molson Coors Beverage were worth $477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millstone Evans Group LLC increased its stake in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP acquired a new position in Molson Coors Beverage during the first quarter worth about $30,000. Eastern Bank purchased a new stake in shares of Molson Coors Beverage in the 1st quarter worth about $33,000. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares during the last quarter. Finally, Bayforest Capital Ltd grew its position in shares of Molson Coors Beverage by 735.5% in the first quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock valued at $70,000 after purchasing an additional 1,015 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.3%

Molson Coors Beverage stock opened at $43.76 on Friday. The firm has a 50 day simple moving average of $47.10 and a 200-day simple moving average of $50.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market capitalization of $8.65 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.63. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted $1.92 earnings per share. The business’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. As a group, equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TAP has been the topic of several recent analyst reports. Barclays reissued an “underweight” rating and set a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Evercore ISI dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company reduced their price objective on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Six 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.62.

About Molson Coors Beverage

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.