1,575 Shares in Molson Coors Beverage (NYSE:TAP) Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,575 shares of the company’s stock, valued at approximately $91,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Boston Financial Mangement LLC raised its stake in Molson Coors Beverage by 4.4% in the third quarter. Boston Financial Mangement LLC now owns 19,536 shares of the company’s stock valued at $1,124,000 after purchasing an additional 827 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in Molson Coors Beverage by 50.8% in the 3rd quarter. Pallas Capital Advisors LLC now owns 16,818 shares of the company’s stock valued at $943,000 after buying an additional 5,665 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Molson Coors Beverage by 5.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 111,816 shares of the company’s stock valued at $6,321,000 after buying an additional 5,661 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Molson Coors Beverage by 102.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 35,009 shares of the company’s stock worth $2,014,000 after acquiring an additional 17,679 shares during the period. Finally, Forsta AP Fonden boosted its position in shares of Molson Coors Beverage by 35.7% during the 3rd quarter. Forsta AP Fonden now owns 174,000 shares of the company’s stock worth $10,008,000 after acquiring an additional 45,800 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Citigroup reduced their price objective on 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. Jefferies Financial Group lowered their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. UBS Group raised their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.43.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $55.49 on Thursday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock’s 50-day simple moving average is $55.16 and its 200 day simple moving average is $54.71. 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 stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. Research analysts forecast that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

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.