Wealth Enhancement Advisory Services LLC Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Wealth Enhancement Advisory Services LLC raised its stake in Molson Coors Beverage (NYSE:TAP) by 102.0% during the third quarter, HoldingsChannel reports. The fund owned 35,009 shares of the company’s stock after buying an additional 17,679 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Molson Coors Beverage were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perpetual Ltd boosted its stake in Molson Coors Beverage by 1.0% in the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Molson Coors Beverage by 3.5% during the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock valued at $455,000 after buying an additional 226 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Molson Coors Beverage by 1.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after buying an additional 231 shares during the last quarter. Affinity Investment Advisors LLC raised its holdings in Molson Coors Beverage by 2.9% in the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock worth $579,000 after acquiring an additional 246 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Molson Coors Beverage by 0.8% in the 1st quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after acquiring an additional 250 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America reduced their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Barclays upped their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Finally, Citigroup lowered their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $59.43.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $55.00 on Friday. The stock has a market cap of $11.39 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.42 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The stock’s fifty day moving average is $55.25 and its 200 day moving average is $54.64. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Sell-side analysts anticipate that Molson Coors Beverage will post 5.71 earnings per share for the current year.

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.