Foster & Motley Inc. Has $1.98 Million Stake in Molson Coors Beverage Company $TAP

Key Points

• Foster & Motley Inc. significantly increased its stake in Molson Coors Beverage by 450.4%, holding 41,226 shares worth approximately $1.98 million after acquiring additional shares during the second quarter.
• Molson Coors Beverage reported earnings of $2.05 per share for the latest quarter, surpassing estimates, with revenues of $3.20 billion, although down 1.6% year-over-year.
• Institutional investors own 78.46% of Molson Coors stock, while analysts have mixed views with an average rating of "Hold" and a price target averaging $56.62.

Foster & Motley Inc. boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 450.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,226 shares of the company's stock after buying an additional 33,736 shares during the quarter. Foster & Motley Inc.'s holdings in Molson Coors Beverage were worth $1,983,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC increased its position in Molson Coors Beverage by 151.8% during the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after buying an additional 255 shares during the last quarter. Elequin Capital LP acquired a new position in Molson Coors Beverage during the first quarter worth $30,000. Eastern Bank bought a new stake in Molson Coors Beverage during the first quarter valued at about $33,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after acquiring an additional 198 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.8%

NYSE TAP opened at $47.43 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a 50-day simple moving average of $48.34 and a 200 day simple moving average of $51.61. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve month high of $64.66. The stock has a market cap of $9.38 billion, a PE ratio of 9.36, a PEG ratio of 1.73 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share 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 analysts' expectations of $3.12 billion. During the same quarter last year, the company earned $1.92 earnings per share. The firm's revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, October 2nd. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Citigroup decreased their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, October 9th. Barclays restated an "underweight" rating and set a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, Evercore ISI decreased their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $56.62.

Molson Coors Beverage Company 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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