Private Capital Management LLC Sells 25,000 Shares of Molson Coors Beverage (NYSE:TAP)

Private Capital Management LLC decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 61.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,500 shares of the company’s stock after selling 25,000 shares during the quarter. Private Capital Management LLC’s holdings in Molson Coors Beverage were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. DoubleLine ETF Adviser LP boosted its stake in Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after purchasing an additional 170 shares during the period. Venturi Wealth Management LLC raised its holdings in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after acquiring an additional 202 shares in the last quarter. Truvestments Capital LLC raised its holdings in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock worth $2,809,000 after buying an additional 206 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP stock opened at $55.35 on Thursday. The business’s 50-day moving average price is $58.81 and its two-hundred day moving average price is $58.39. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.21 billion, a PE ratio of 10.35, a P/E/G ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a report on Monday. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.71.

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.