AM Squared Ltd Has $431,000 Stake in Molson Coors Beverage (NYSE:TAP)

AM Squared Ltd reduced its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 54.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,500 shares of the company's stock after selling 8,900 shares during the quarter. Molson Coors Beverage comprises approximately 1.0% of AM Squared Ltd's holdings, making the stock its 8th largest position. AM Squared Ltd's holdings in Molson Coors Beverage were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new position in Molson Coors Beverage during the 2nd quarter worth about $26,000. Altshuler Shaham Ltd purchased a new position in shares of Molson Coors Beverage in the second quarter worth about $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock worth $33,000 after purchasing an additional 294 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $35,000. Finally, Gladius Capital Management LP purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP traded down $0.31 on Friday, hitting $62.42. The company's stock had a trading volume of 2,245,599 shares, compared to its average volume of 1,874,497. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The stock's 50-day moving average is $56.23 and its two-hundred day moving average is $54.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The company's revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on TAP. Wells Fargo & Company raised 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 report on Friday, November 8th. Hsbc Global Res lowered Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Finally, Barclays raised their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an "underweight" rating in a report on Monday, November 11th. Two investment 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, the company presently has an average rating of "Hold" and an average price target 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.