Huntington National Bank Has $87,000 Holdings in Molson Coors Beverage (NYSE:TAP)

Huntington National Bank lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 27.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,508 shares of the company’s stock after acquiring an additional 323 shares during the quarter. Huntington National Bank’s holdings in Molson Coors Beverage were worth $87,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Family Firm Inc. acquired a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $27,000. GPS Wealth Strategies Group LLC boosted its position in shares of Molson Coors Beverage by 83.8% in the second 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 during the period. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage in the third quarter valued at about $35,000. Finally, Crewe Advisors LLC bought a new position in Molson Coors Beverage during the first quarter worth about $43,000. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Piper Sandler upped their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, UBS Group boosted their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $61.89 on Tuesday. The stock’s 50-day moving average is $56.35 and its 200-day moving average is $54.35. 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 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.82 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

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.