Pathway Financial Advisers LLC Takes $91,000 Position in Molson Coors Beverage (NYSE:TAP)

Pathway Financial Advisers LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,575 shares of the company’s stock, valued at approximately $91,000.

Several other hedge funds also recently modified their holdings of TAP. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of 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 acquiring an additional 294 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Molson Coors Beverage in the 1st quarter valued at about $43,000. Finally, Quarry LP bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $54,000. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TAP shares. TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Citigroup cut their target price 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $59.43.

Molson Coors Beverage Stock Down 0.6 %

Shares of TAP opened at $55.77 on Friday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The firm’s 50 day moving average is $55.08 and its 200-day moving average is $54.95. The stock has a market capitalization of $11.82 billion, a PE ratio of 11.15, a P/E/G ratio of 2.35 and a beta of 0.81. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced 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 company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Equities research analysts forecast that Molson Coors Beverage will post 5.74 EPS for the current year.

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.