Empowered Funds LLC Has $10.01 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Empowered Funds LLC decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,017 shares of the company’s stock after selling 6,286 shares during the quarter. Empowered Funds LLC’s holdings in Molson Coors Beverage were worth $10,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TAP. Family Firm Inc. bought a new position in Molson Coors Beverage in the 2nd quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage during the second quarter worth $27,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $35,000. Finally, Crewe Advisors LLC bought a new stake in Molson Coors Beverage during the 1st quarter worth $43,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.5 %

NYSE TAP opened at $62.42 on Friday. The stock has a market capitalization of $12.93 billion, a P/E ratio of 14.06, a P/E/G ratio of 2.48 and a beta of 0.82. The business has a 50 day simple moving average of $56.23 and a 200 day simple moving average of $54.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Research analysts expect that Molson Coors Beverage will post 5.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on TAP. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. 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 research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their target price 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $60.31.

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.