Bank of Stockton Buys New Shares in Molson Coors Beverage (NYSE:TAP)

Bank of Stockton purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,342 shares of the company’s stock, valued at approximately $250,000.

A number of other large investors also recently modified their holdings of the business. Mediolanum International Funds Ltd bought a new stake in Molson Coors Beverage during the third quarter worth about $594,000. Legacy Capital Group California Inc. acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $716,000. Assenagon Asset Management S.A. boosted its holdings in shares of Molson Coors Beverage by 12.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 56,316 shares of the company’s stock valued at $3,239,000 after buying an additional 6,113 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Molson Coors Beverage by 1,711.8% in the third quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock valued at $3,157,000 after buying an additional 51,851 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in Molson Coors Beverage by 22.6% during the third quarter. Greenleaf Trust now owns 8,825 shares of the company’s stock worth $508,000 after buying an additional 1,625 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.0 %

Molson Coors Beverage stock traded down $0.02 on Friday, hitting $56.08. 316,725 shares of the stock traded hands, compared to its average volume of 1,903,802. 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 business’s fifty day simple moving average is $55.04 and its 200 day simple moving average is $55.11. The firm has a market cap of $11.88 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter 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. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of 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. Barclays boosted their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen decreased their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target 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.