Arkadios Wealth Advisors Lowers Holdings in Molson Coors Beverage (NYSE:TAP)

Arkadios Wealth Advisors reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 22.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,095 shares of the company’s stock after selling 2,562 shares during the period. Arkadios Wealth Advisors’ holdings in Molson Coors Beverage were worth $523,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Perpetual Ltd increased its position in shares of Molson Coors Beverage by 1.0% in the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after purchasing an additional 197 shares during the last quarter. Empirical Finance LLC raised its stake in Molson Coors Beverage by 3.5% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Molson Coors Beverage by 1.6% in 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 in the last quarter. Affinity Investment Advisors LLC lifted its holdings in Molson Coors Beverage by 2.9% during the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock worth $579,000 after buying an additional 246 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Molson Coors Beverage by 0.8% during 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 in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the topic of several research analyst reports. Barclays raised their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Jefferies Financial Group dropped their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Citigroup cut their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $59.43.

Molson Coors Beverage Trading Down 0.4 %

NYSE:TAP opened at $55.78 on Wednesday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $55.16 and its 200-day simple moving average is $54.71. The firm has a market cap of $11.82 billion, a P/E ratio of 11.16, a PEG ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. Equities analysts anticipate that Molson Coors Beverage will post 5.74 EPS 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.