Claro Advisors LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Claro Advisors LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,272 shares of the company’s stock, valued at approximately $1,799,000.

A number of other hedge funds have also modified their holdings of TAP. V Square Quantitative Management LLC boosted its stake in shares of Molson Coors Beverage by 7.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,344 shares of the company’s stock worth $307,000 after purchasing an additional 371 shares during the last quarter. Randolph Co Inc acquired a new position in Molson Coors Beverage in the third quarter valued at $21,754,000. Inlet Private Wealth LLC grew its holdings in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock worth $2,748,000 after purchasing an additional 2,150 shares during the period. Vontobel Holding Ltd. increased its position in Molson Coors Beverage by 16.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock worth $7,177,000 after purchasing an additional 17,285 shares in the last quarter. Finally, Creative Planning raised its holdings in Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after buying an additional 2,418 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent research reports. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. UBS Group boosted their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen dropped their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Piper Sandler raised their price objective 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, Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.21.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.10 during midday trading on Friday, reaching $56.15. The company’s stock had a trading volume of 132,431 shares, compared to its average volume of 1,914,970. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The company has a 50 day moving average price of $54.72 and a 200 day moving average price of $55.52. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

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 the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that Molson Coors Beverage will post 5.74 EPS for the current year.

Molson Coors Beverage 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.