Molson Coors Beverage Company $TAP Stock Bought by Howard Capital Management LLC

Key Points

• Howard Capital Management increased its Molson Coors position by 459.5% in the third quarter, acquiring 122,334 additional shares for a total holding of 148,958 shares valued at approximately $5.4 million.
• Institutional ownership remains substantial at 78.46%, while several other funds also increased their stakes in TAP during the quarter.
• Analysts maintain a consensus “Hold” rating with an average price target of $43.12. Shares recently traded at $39.53, and the company exceeded quarterly earnings and revenue estimates despite year-over-year revenue and earnings declines.

Howard Capital Management LLC lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 459.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,958 shares of the company's stock after buying an additional 122,334 shares during the period. Howard Capital Management LLC owned approximately 0.07% of Molson Coors Beverage worth $5,432,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in Molson Coors Beverage by 17.0% during the third quarter. State of Alaska Department of Revenue now owns 76,923 shares of the company's stock worth $2,804,000 after acquiring an additional 11,190 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Molson Coors Beverage by 18.9% in the 3rd quarter. Mather Group LLC. now owns 22,544 shares of the company's stock worth $822,000 after purchasing an additional 3,588 shares during the period. Baker Ellis Asset Management LLC raised its holdings in shares of Molson Coors Beverage by 0.7% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 149,945 shares of the company's stock worth $5,469,000 after purchasing an additional 1,001 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $433,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Molson Coors Beverage by 0.8% in the 3rd quarter. Sound Income Strategies LLC now owns 128,815 shares of the company's stock valued at $4,885,000 after purchasing an additional 1,044 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TAP. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Monday, September 21st. JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Barclays dropped their price objective on shares of Molson Coors Beverage from $41.00 to $36.00 and set an "underweight" rating for the company in a research report on Friday. Finally, UBS Group increased their price objective on shares of Molson Coors Beverage from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.12.

Molson Coors Beverage Stock Up 1.3%

Shares of NYSE TAP traded up $0.50 during trading on Friday, reaching $39.53. 3,179,610 shares of the stock were exchanged, compared to its average volume of 5,656,489. The business's 50-day moving average price is $39.34 and its 200 day moving average price is $40.74. Molson Coors Beverage Company has a twelve month low of $35.52 and a twelve month high of $54.82. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of -3.43 and a beta of 0.43.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. As a group, equities analysts forecast that Molson Coors Beverage Company will post 4.79 EPS for the current fiscal year.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel's, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.

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