Molson Coors Beverage (NYSE:TAP) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in Molson Coors Beverage (NYSE:TAP) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,789 shares of the company’s stock after buying an additional 4,160 shares during the period. Janney Montgomery Scott LLC’s holdings in Molson Coors Beverage were worth $1,311,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage in the second quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage during the second quarter worth $27,000. GPS Wealth Strategies Group LLC raised its holdings 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 worth $33,000 after acquiring an additional 294 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at $43,000. Finally, Quarry LP acquired a new stake in shares of Molson Coors Beverage during the second quarter valued at $54,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $62.75 on Friday. The business has a 50-day moving average of $56.10 and a two-hundred day moving average of $54.37. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $13.00 billion, a PE ratio of 14.13, a P/E/G ratio of 2.41 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. As a group, research analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TAP. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. TD Cowen decreased their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group reduced their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.31.

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.