Applied Finance Capital Management LLC Acquires New Holdings in Molson Coors Beverage Company $TAP

Key Points

• Applied Finance Capital Management LLC has acquired a new position in Molson Coors Beverage, purchasing 17,671 shares valued at approximately $850,000.
• Molson Coors reported earnings per share of $2.05 for the last quarter, exceeding estimates of $1.83, despite a 1.6% decline in revenue from the previous year.
• Analysts have varied ratings on Molson Coors, with a mix of Buy, Hold, and Sell ratings, leading to an average target price of $56.62.

Applied Finance Capital Management LLC purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 17,671 shares of the company's stock, valued at approximately $850,000.

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

Molson Coors Beverage Stock Performance

NYSE TAP opened at $47.43 on Friday. The company has a fifty day simple moving average of $48.34 and a 200 day simple moving average of $51.69. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.38 billion, a P/E ratio of 9.36, a PEG ratio of 1.72 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted $1.92 EPS. Molson Coors Beverage'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. Sell-side analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TAP has been the subject of several analyst reports. Needham & Company LLC lowered their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Barclays reaffirmed an "underweight" rating and set a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Piper Sandler reduced their price objective 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. Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Molson Coors Beverage in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $56.62.

Molson Coors Beverage Profile

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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