Private Trust Co. NA Sells 332 Shares of Molson Coors Beverage Company $TAP

Private Trust Co. NA lowered its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 36.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 587 shares of the company’s stock after selling 332 shares during the quarter. Private Trust Co. NA’s holdings in Molson Coors Beverage were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. grew its stake in Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after buying an additional 180 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares in the last quarter. Signet Financial Management LLC grew its stake in Molson Coors Beverage by 3.7% in the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after buying an additional 208 shares in the last quarter. Callan Family Office LLC grew its stake in Molson Coors Beverage by 5.0% in the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock valued at $269,000 after buying an additional 209 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in Molson Coors Beverage by 1.1% in the 2nd quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock valued at $939,000 after buying an additional 222 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $45.43 on Friday. Molson Coors Beverage Company has a 52-week low of $43.80 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market capitalization of $8.98 billion, a P/E ratio of 8.96, a P/E/G ratio of 1.67 and a beta of 0.63. The company has a fifty day moving average of $47.84 and a 200-day moving average of $51.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $1.92 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Citigroup reduced their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, July 9th. Finally, Bank of America lowered shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $56.62.

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.