Molson Coors Beverage (NYSE:TAP) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 428.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,733 shares of the company’s stock after acquiring an additional 2,216 shares during the period. Venturi Wealth Management LLC’s holdings in Molson Coors Beverage were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TAP. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares during the period. Perpetual Ltd raised its position in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Molson Coors Beverage by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 6,989 shares of the company’s stock worth $470,000 after acquiring an additional 266 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after acquiring an additional 274 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Up 3.2 %

Shares of Molson Coors Beverage stock opened at $63.89 on Thursday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a market cap of $13.24 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.41 and a beta of 0.82. 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 stock has a 50-day moving average price of $55.96 and a 200 day moving average price of $54.31.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during 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 quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.92 earnings per share. As a group, analysts expect that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TAP shares. TD Cowen dropped their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Jefferies Financial Group decreased their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, UBS Group increased their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.31.

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.