Inlet Private Wealth LLC Has $2.75 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Inlet Private Wealth LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 47,770 shares of the company’s stock after acquiring an additional 2,150 shares during the period. Inlet Private Wealth LLC’s holdings in Molson Coors Beverage were worth $2,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank lifted its holdings in shares of Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after purchasing an additional 149 shares in the last quarter. Perpetual Ltd raised its holdings in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Molson Coors Beverage by 3.5% during the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after purchasing an additional 226 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Molson Coors Beverage by 1.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after acquiring an additional 231 shares during the period. Finally, Affinity Investment Advisors LLC grew its holdings in Molson Coors Beverage by 2.9% during the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock worth $579,000 after purchasing an additional 246 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Bank of America reduced their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, Barclays raised their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $59.21.

Molson Coors Beverage Stock Up 0.5 %

Shares of TAP traded up $0.30 during mid-day trading on Thursday, reaching $56.40. The company had a trading volume of 269,899 shares, compared to its average volume of 1,918,268. The firm has a 50-day moving average price of $54.66 and a 200 day moving average price of $55.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts forecast 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.