David Coors Purchases 2,245 Shares of Molson Coors Beverage (NYSE:TAP) Stock

Molson Coors Beverage Company (NYSE:TAP) Director David Coors bought 2,245 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the acquisition, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $46.27 on Friday. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $46.47 and a two-hundred day moving average of $50.07. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group cut their price objective on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday. Weiss Ratings downgraded Molson Coors Beverage from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday. Citigroup decreased their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Piper Sandler cut their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Finally, Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $54.56.

Hedge Funds Weigh In On Molson Coors Beverage

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Molson Coors Beverage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock worth $1,019,934,000 after purchasing an additional 92,058 shares in the last quarter. Dodge & Cox increased its holdings in Molson Coors Beverage by 2.3% in the second quarter. Dodge & Cox now owns 14,396,195 shares of the company’s stock worth $692,313,000 after buying an additional 327,885 shares during the last quarter. LSV Asset Management raised its position in Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock valued at $387,711,000 after acquiring an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC lifted its stake in Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock valued at $277,154,000 after acquiring an additional 33,535 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after acquiring an additional 750,388 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.