Molson Coors Beverage Company $TAP Shares Sold by Capital Management Corp VA

Key Points

• Capital Management Corp VA reduced its holdings in Molson Coors Beverage Company by 42.6%, selling 74,767 shares in the second quarter, leaving them with 100,903 shares valued at approximately $4.85 million.
• Molson Coors Beverage reported strong earnings with an EPS of $2.05 for the latest quarter, surpassing analysts' expectations, though revenue decreased by 1.6% year-over-year.
• Analysts have varied ratings on Molson Coors, with the average consensus rating being "Hold" and a target price around $56.62, reflecting mixed sentiments regarding its future performance.

Capital Management Corp VA trimmed its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 42.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,903 shares of the company's stock after selling 74,767 shares during the period. Capital Management Corp VA's holdings in Molson Coors Beverage were worth $4,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC grew its holdings in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the last quarter. Elequin Capital LP purchased a new position in Molson Coors Beverage during the first quarter worth $30,000. Eastern Bank acquired a new position in shares of Molson Coors Beverage in the first quarter worth $33,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after acquiring an additional 198 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 1.5%

Shares of TAP stock opened at $46.74 on Wednesday. The firm's 50-day simple moving average is $48.53 and its 200-day simple moving average is $51.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a 1-year low of $43.80 and a 1-year high of $64.66. The firm has a market cap of $9.24 billion, a P/E ratio of 9.22, a PEG ratio of 1.68 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TAP. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Evercore ISI decreased their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Molson Coors Beverage in a research report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, September 30th. Finally, Citigroup decreased their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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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