Thompson Siegel & Walmsley LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Thompson Siegel & Walmsley LLC bought a new stake in Molson Coors Beverage (NYSE:TAP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 838,007 shares of the company’s stock, valued at approximately $48,202,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Family Firm Inc. purchased a new stake in Molson Coors Beverage in the 2nd quarter worth about $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage in the second quarter worth approximately $27,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter worth approximately $35,000. Finally, Gladius Capital Management LP purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $60.38 on Thursday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.44 billion, a P/E ratio of 13.60, a P/E/G ratio of 2.35 and a beta of 0.82. The business’s 50 day moving average is $56.60 and its two-hundred day moving average is $54.42.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $1.92 EPS. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that Molson Coors Beverage will post 5.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.31.

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.