Ashton Thomas Securities LLC Purchases New Position in Molson Coors Beverage (NYSE:TAP)

Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 609 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter worth about $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage in the second quarter worth about $27,000. Crewe Advisors LLC bought a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $43,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TAP shares. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Stock Down 1.8 %

Molson Coors Beverage stock opened at $62.75 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The stock has a fifty day moving average of $56.10 and a 200 day moving average of $54.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market cap of $13.00 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 EPS. As a group, sell-side analysts predict that Molson Coors Beverage will post 5.74 EPS for the current 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.