Andrew Thomas Molson Purchases 7,500 Shares of Molson Coors Beverage (NYSE:TAP) Stock

Molson Coors Beverage Company (NYSE:TAP) Director Andrew Thomas Molson bought 7,500 shares of Molson Coors Beverage stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $46.79 per share, with a total value of $350,925.00. Following the completion of the acquisition, the director directly owned 22,654 shares in the company, valued at approximately $1,059,980.66. The trade was a 49.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Molson Coors Beverage Trading Up 2.0%

NYSE:TAP opened at $46.91 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66. The stock’s 50 day moving average price is $46.20 and its 200 day moving average price is $49.76. The company has a market capitalization of $9.27 billion, a PE ratio of 9.25, a P/E/G ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates 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. On average, research analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Institutional Trading of Molson Coors Beverage

Several hedge funds have recently modified their holdings of TAP. Twin Capital Management Inc. raised its holdings in shares of Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after buying an additional 180 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares in the last quarter. Signet Financial Management LLC increased its position in Molson Coors Beverage by 3.7% in the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after acquiring an additional 208 shares in the last quarter. Callan Family Office LLC raised its stake in shares of Molson Coors Beverage by 5.0% in the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after acquiring an additional 209 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Needham & Company LLC decreased their target price on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. The Goldman Sachs Group dropped their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Roth Capital reaffirmed a “buy” rating and set a $65.00 price objective (down from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Finally, Evercore ISI decreased their price objective on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.56.

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.