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

Foster & Motley Inc. increased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 450.4% in the 2nd quarter, HoldingsChannel.com reports. The firm 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 reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Twin Capital Management Inc. raised its position in Molson Coors Beverage by 0.7% in the first 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 in the last quarter. Geneos Wealth Management Inc. raised its position in 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 purchasing an additional 198 shares in the last quarter. Signet Financial Management LLC increased its holdings in shares of Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after buying an additional 208 shares in the last quarter. Callan Family Office LLC increased its holdings in shares of Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after buying an additional 209 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Molson Coors Beverage by 1.1% during the second quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock worth $939,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” 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 report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Piper Sandler dropped 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 report on Tuesday, September 30th. Finally, Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.62.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $47.43 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market cap of $9.38 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.73 and a beta of 0.63. 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 fifty-two week low of $43.80 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.22. The business 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 last year, the business posted $1.92 earnings per share. 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.

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.