Vise Technologies Inc. Purchases Shares of 5,716 Molson Coors Beverage Company $TAP

Vise Technologies Inc. purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the second quarter, HoldingsChannel.com reports. The firm purchased 5,716 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Millstone Evans Group LLC boosted its position in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Elequin Capital LP bought a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $30,000. Eastern Bank acquired a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $33,000. Geneos Wealth Management Inc. increased its stake in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its position in shares of Molson Coors Beverage by 735.5% during the 1st quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock valued at $70,000 after acquiring an additional 1,015 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Friday. Morgan Stanley cut their price target on 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. Needham & Company LLC lowered their price objective on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company lowered their target price on shares of Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Roth Capital reissued a “buy” rating and set a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.56.

Molson Coors Beverage Stock Down 1.7%

TAP opened at $45.66 on Tuesday. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company’s 50-day moving average price is $46.04 and its two-hundred day moving average price is $49.50. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.60 and a beta of 0.65. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, equities analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Insider Activity

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the purchase, the director owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Thomas Molson bought 7,500 shares of the company’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the transaction, the director owned 22,654 shares of the company’s stock, valued at approximately $1,059,980.66. This represents a 49.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.71% of the company’s stock.

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.