Molson Coors Beverage (NYSE:TAP) Director Andrew Thomas Molson Purchases 7,500 Shares of Stock

Molson Coors Beverage Company (NYSE:TAP) Director Andrew Thomas Molson bought 7,500 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $46.79 per share, with a total value of $350,925.00. Following the transaction, the director owned 22,654 shares of the company’s stock, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Molson Coors Beverage Stock Down 2.5%

NYSE:TAP opened at $45.97 on Thursday. The business’s fifty day moving average price is $46.26 and its 200 day moving average price is $49.78. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.60 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TAP. Roth Capital reiterated a “buy” rating and issued a $65.00 price objective (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. JPMorgan Chase & Co. assumed coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price target on the stock. Barclays cut their price objective on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating for the company in a report on Thursday, November 6th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company dropped their target price on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.56.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently bought and sold shares of the business. Root Financial Partners LLC bought a new position in Molson Coors Beverage during the third quarter valued at about $25,000. Millstone Evans Group LLC increased its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the last quarter. Clearstead Trust LLC raised its stake in shares of Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after acquiring an additional 505 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in Molson Coors Beverage during the first quarter worth approximately $30,000. 78.46% of the stock is currently owned by institutional investors.

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.