Molson Coors Beverage (NYSE:TAP) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 40.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,507 shares of the company's stock after selling 23,523 shares during the period. Amalgamated Bank's holdings in Molson Coors Beverage were worth $1,985,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TAP. Asset Management One Co. Ltd. lifted its stake in shares of Molson Coors Beverage by 4.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 68,533 shares of the company's stock valued at $3,942,000 after purchasing an additional 2,832 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Molson Coors Beverage by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 22,789 shares of the company's stock worth $1,311,000 after purchasing an additional 4,160 shares during the period. Private Management Group Inc. grew its position in shares of Molson Coors Beverage by 5.5% during the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company's stock worth $32,081,000 after buying an additional 29,294 shares during the period. Farther Finance Advisors LLC grew its position in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock worth $99,000 after buying an additional 182 shares during the period. Finally, Focus Financial Network Inc. lifted its holdings in shares of Molson Coors Beverage by 7.0% during the 3rd quarter. Focus Financial Network Inc. now owns 4,276 shares of the company's stock valued at $246,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TAP shares. JPMorgan Chase & Co. boosted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $52.00 to $74.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, TD Cowen cut their target price on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.31.

Molson Coors Beverage Price Performance

TAP stock traded up $1.22 during midday trading on Tuesday, hitting $61.72. The company's stock had a trading volume of 1,282,147 shares, compared to its average volume of 1,909,583. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The company has a 50 day moving average of $55.70 and a two-hundred day moving average of $54.25.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned $1.92 earnings per share. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, analysts expect 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.