Arkadios Wealth Advisors Sells 1,489 Shares of Molson Coors Beverage Company $TAP

Arkadios Wealth Advisors decreased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 21.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,369 shares of the company’s stock after selling 1,489 shares during the quarter. Arkadios Wealth Advisors’ holdings in Molson Coors Beverage were worth $258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC raised its stake in Molson Coors Beverage by 151.8% in 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 stake in Molson Coors Beverage in the 1st quarter worth about $30,000. Eastern Bank acquired a new stake in Molson Coors Beverage in the 1st quarter worth about $33,000. Geneos Wealth Management Inc. raised its stake in Molson Coors Beverage by 32.9% in 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. Finally, Bayforest Capital Ltd raised its stake in Molson Coors Beverage by 735.5% in the 1st quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock worth $70,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 3.5%

Shares of Molson Coors Beverage stock opened at $45.19 on Thursday. The firm has a market capitalization of $8.94 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $46.68 and its 200 day moving average is $50.20. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.05). The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Equities research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TAP has been the subject of several analyst reports. Morgan Stanley dropped 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 note on Wednesday, August 6th. Piper Sandler dropped their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Needham & Company LLC decreased their target price on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday. Barclays reissued an “underweight” rating and issued a $50.00 target price (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, The Goldman Sachs Group decreased their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.87.

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.