Molson Coors Beverage (NYSE:TAP) Holdings Boosted by Creative Planning

Creative Planning grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,890 shares of the company’s stock after purchasing an additional 2,418 shares during the quarter. Creative Planning’s holdings in Molson Coors Beverage were worth $1,087,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Family Firm Inc. bought a new position in Molson Coors Beverage during the 2nd quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter worth about $27,000. GPS Wealth Strategies Group LLC lifted its position in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. Crewe Advisors LLC acquired a new position in Molson Coors Beverage during the 1st quarter valued at about $43,000. Finally, Quarry LP bought a new position in Molson Coors Beverage in the 2nd quarter worth about $54,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 1.8 %

NYSE:TAP opened at $54.48 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The business’s 50-day simple moving average is $55.21 and its 200-day simple moving average is $54.71. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a market capitalization of $11.29 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 earnings per share. Sell-side analysts expect that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent analyst reports. Citigroup decreased their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Piper Sandler raised their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays upped their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Three investment 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.com, the company presently has an average rating of “Hold” and an average target price of $59.43.

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.