Claro Advisors LLC Invests $283,000 in Molson Coors Beverage (NYSE:TAP)

Claro Advisors LLC purchased a new position in Molson Coors Beverage (NYSE:TAP) during the third quarter, HoldingsChannel reports. The firm purchased 4,924 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds have also recently made changes to their positions in TAP. Avantax Advisory Services Inc. bought a new position in shares of Molson Coors Beverage in the first quarter worth about $254,000. Kingsview Wealth Management LLC bought a new position in shares of Molson Coors Beverage in the first quarter worth about $219,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Molson Coors Beverage by 105.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock worth $17,459,000 after acquiring an additional 132,893 shares in the last quarter. Seven Eight Capital LP bought a new position in Molson Coors Beverage during the 1st quarter worth about $381,000. Finally, UniSuper Management Pty Ltd grew its holdings in Molson Coors Beverage by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 16,359 shares of the company’s stock worth $1,100,000 after acquiring an additional 13,892 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TAP shares. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Piper Sandler increased their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Stock Down 0.8 %

NYSE:TAP opened at $61.89 on Tuesday. The company has a market cap of $12.82 billion, a PE ratio of 13.94, a P/E/G ratio of 2.42 and a beta of 0.82. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $56.35 and its two-hundred day moving average is $54.35.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Analysts anticipate that Molson Coors Beverage will post 5.78 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.