Molson Coors Beverage (NYSE:TAP) Shares Acquired by AMG National Trust Bank

AMG National Trust Bank raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 315,038 shares of the company’s stock after buying an additional 2,389 shares during the quarter. AMG National Trust Bank’s holdings in Molson Coors Beverage were worth $18,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its stake in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter valued at approximately $35,000. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $42,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.5 %

Shares of NYSE:TAP opened at $62.42 on Monday. The firm’s 50 day moving average price is $56.23 and its 200 day moving average price is $54.32. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TAP. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. UBS Group lifted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, TD Cowen cut their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $60.31.

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.