Scott & Selber Inc. Makes New $1.39 Million Investment in Molson Coors Beverage (NYSE:TAP)

Scott & Selber Inc. bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,124 shares of the company's stock, valued at approximately $1,388,000.

A number of other large investors have also added to or reduced their stakes in TAP. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the second quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its stake in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock worth $33,000 after acquiring an additional 294 shares during the period. Crewe Advisors LLC acquired a new position in Molson Coors Beverage in the 1st quarter valued at $43,000. Finally, Quarry LP bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at $54,000. Institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Jefferies Financial Group decreased their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating on the stock in a research note on Thursday, July 18th. UBS Group upped their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, Barclays lifted their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.15.

Molson Coors Beverage Stock Up 5.0 %

Shares of TAP stock traded up $2.83 during mid-day trading on Friday, hitting $59.56. The company's stock had a trading volume of 3,632,570 shares, compared to its average volume of 1,447,352. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 2.47 and a beta of 0.82. The business has a 50-day moving average price of $55.57 and a 200 day moving average price of $54.33.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.15. The firm had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The company's revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. Research analysts predict that Molson Coors Beverage will post 5.71 EPS for the current fiscal year.

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.