Captrust Financial Advisors Cuts Stock Position in Molson Coors Beverage (NYSE:TAP)

Captrust Financial Advisors lessened its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,401 shares of the company's stock after selling 4,689 shares during the quarter. Captrust Financial Advisors' holdings in Molson Coors Beverage were worth $1,571,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Randolph Co Inc raised its stake in shares of Molson Coors Beverage by 26.2% during the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after purchasing an additional 98,984 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after purchasing an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after purchasing an additional 563 shares during the last quarter. US Bancorp DE raised its stake in shares of Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares during the last quarter. Finally, Unified Investment Management purchased a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $871,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 0.5%

NYSE:TAP opened at $55.20 on Wednesday. The company has a market capitalization of $11.18 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The stock has a fifty day simple moving average of $58.94 and a 200-day simple moving average of $58.41.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company's quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. On average, equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TAP shares. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. UBS Group dropped their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. StockNews.com raised Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Finally, Needham & Company LLC dropped their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and an average price target of $62.71.

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.

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