Pathway Financial Advisers LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Pathway Financial Advisers LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,575 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in shares of Molson Coors Beverage during the first quarter worth $383,000. Aviance Capital Partners LLC lifted its holdings in shares of Molson Coors Beverage by 5.6% during the first quarter. Aviance Capital Partners LLC now owns 24,665 shares of the company’s stock worth $1,659,000 after purchasing an additional 1,303 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Molson Coors Beverage by 220.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock worth $32,910,000 after purchasing an additional 336,496 shares during the period. Measured Wealth Private Client Group LLC lifted its holdings in shares of Molson Coors Beverage by 8.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 13,637 shares of the company’s stock worth $917,000 after purchasing an additional 1,058 shares during the period. Finally, New Century Financial Group LLC acquired a new position in shares of Molson Coors Beverage during the first quarter worth $1,107,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.6 %

TAP opened at $55.77 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. 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 $11.82 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The company has a fifty day moving average price of $55.08 and a two-hundred day moving average price of $54.95.

Molson Coors Beverage (NYSE:TAP) last posted 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 during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Analysts predict that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TAP. Bank of America cut their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Citigroup dropped their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has an average 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.