Narwhal Capital Management Lowers Position in Molson Coors Beverage (NYSE:TAP)

Narwhal Capital Management reduced its stake in Molson Coors Beverage (NYSE:TAP) by 54.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,075 shares of the company’s stock after selling 13,485 shares during the period. Narwhal Capital Management’s holdings in Molson Coors Beverage were worth $637,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Perpetual Ltd boosted its position in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares during the period. Empirical Finance LLC boosted its position in shares of Molson Coors Beverage by 3.5% during the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after buying an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Molson Coors Beverage by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after buying an additional 231 shares in the last quarter. Affinity Investment Advisors LLC raised its holdings in shares of Molson Coors Beverage by 2.9% in the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after buying an additional 246 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Molson Coors Beverage by 0.8% during the 1st quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.3 %

Shares of NYSE:TAP opened at $55.87 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The stock has a market cap of $11.84 billion, a P/E ratio of 11.17, a P/E/G ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a fifty day moving average price of $54.91 and a 200 day moving average price of $55.10.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. Sell-side analysts predict that Molson Coors Beverage will post 5.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TAP shares. Wells Fargo & Company raised their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America decreased their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Piper Sandler upped their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.43.

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.