Molson Coors Beverage Company $TAP Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp lowered its holdings in Molson Coors Beverage Company (NYSE:TAP) by 56.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,156 shares of the company’s stock after selling 14,275 shares during the quarter. Garner Asset Management Corp’s holdings in Molson Coors Beverage were worth $446,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TAP. Nykredit A S bought a new position in shares of Molson Coors Beverage during the second quarter valued at approximately $43,375,000. Squarepoint Ops LLC lifted its stake in Molson Coors Beverage by 8.1% in the second quarter. Squarepoint Ops LLC now owns 1,190,275 shares of the company’s stock worth $46,373,000 after acquiring an additional 89,398 shares during the period. Core Capital Management & Research inc. bought a new stake in Molson Coors Beverage in the second quarter valued at $7,905,000. Foster & Motley Inc. bought a new stake in Molson Coors Beverage in the second quarter valued at $3,080,000. Finally, Hsbc Holdings PLC increased its position in Molson Coors Beverage by 15.2% during the 1st quarter. Hsbc Holdings PLC now owns 255,293 shares of the company’s stock valued at $10,990,000 after purchasing an additional 33,683 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TAP. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, September 21st. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Zacks Research cut shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Citigroup decreased their price target on shares of Molson Coors Beverage from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $43.06.

Molson Coors Beverage Trading Down 3.1%

NYSE TAP opened at $41.88 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. Molson Coors Beverage Company has a twelve month low of $35.52 and a twelve month high of $54.82. The firm has a market capitalization of $8.78 billion, a PE ratio of -3.63 and a beta of 0.45. The stock’s 50 day moving average is $38.95 and its 200 day moving average is $42.43.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.07. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. Research analysts forecast that Molson Coors Beverage Company will post 4.77 earnings per share for the current fiscal year.

About Molson Coors Beverage

Molson Coors Beverage Company is a global beverage company best known for brewing and marketing beer. Its portfolio includes widely recognized brands such as Coors, Coors Light, Miller Lite, Miller High Life, Molson Canadian, Carling, Blue Moon, Staropramen and Peroni Nastro Azzurro, along with hard seltzers, flavored alcoholic beverages and other adjacent products.

The company serves consumers through a broad network of breweries, distributors and retailers across North America, Europe and other international markets.