MMA Asset Management LLC Sells 2,497 Shares of Molson Coors Beverage Company $TAP

MMA Asset Management LLC decreased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 30.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,836 shares of the company’s stock after selling 2,497 shares during the quarter. MMA Asset Management LLC’s holdings in Molson Coors Beverage were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TAP. Twin Capital Management Inc. boosted its stake 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 valued at $1,509,000 after buying an additional 180 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares during the period. Signet Financial Management LLC raised its stake in 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 during the last quarter. Callan Family Office LLC lifted its holdings in Molson Coors Beverage by 5.0% in the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock valued at $269,000 after buying an additional 209 shares during the period. Finally, Yousif Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.1% in the 2nd quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock worth $939,000 after acquiring an additional 222 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TAP. Citigroup dropped their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley lowered 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 research note on Wednesday, August 6th. The Goldman Sachs Group cut their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company reduced their price target on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, UBS Group dropped their price objective on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.62.

Molson Coors Beverage Stock Performance

TAP opened at $43.76 on Monday. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.60 and a beta of 0.63. The company’s fifty day moving average price is $47.10 and its two-hundred day moving average price is $50.45. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company earned $1.92 earnings per share. The business’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, analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

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.