Molson Coors Beverage Company $TAP Shares Bought by Howard Capital Management LLC

Howard Capital Management LLC grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 459.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,958 shares of the company’s stock after buying an additional 122,334 shares during the quarter. Howard Capital Management LLC’s holdings in Molson Coors Beverage were worth $5,432,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TAP. State of Alaska Department of Revenue raised its holdings in Molson Coors Beverage by 17.0% in the third quarter. State of Alaska Department of Revenue now owns 76,923 shares of the company’s stock valued at $2,804,000 after acquiring an additional 11,190 shares in the last quarter. Mather Group LLC. grew its holdings in Molson Coors Beverage by 18.9% during the 3rd quarter. Mather Group LLC. now owns 22,544 shares of the company’s stock worth $822,000 after acquiring an additional 3,588 shares in the last quarter. Baker Ellis Asset Management LLC grew its holdings in Molson Coors Beverage by 0.7% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 149,945 shares of the company’s stock worth $5,469,000 after acquiring an additional 1,001 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Molson Coors Beverage during the 3rd quarter worth $433,000. Finally, Sound Income Strategies LLC increased its position in shares of Molson Coors Beverage by 0.8% in the 3rd quarter. Sound Income Strategies LLC now owns 128,815 shares of the company’s stock worth $4,885,000 after purchasing an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays reduced their price target on shares of Molson Coors Beverage from $41.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Molson Coors Beverage in a research note on Wednesday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Molson Coors Beverage in a report on Friday, August 7th. Finally, UBS Group boosted their price objective on Molson Coors Beverage from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.12.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP traded up $0.50 on Friday, reaching $39.53. 3,179,610 shares of the company’s stock were exchanged, compared to its average volume of 5,656,489. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of -3.43 and a beta of 0.43. Molson Coors Beverage Company has a fifty-two week low of $35.52 and a fifty-two week high of $54.82. The business’s 50-day moving average is $39.34 and its two-hundred day moving average is $40.74. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.55.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $2.05 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. As a group, equities research analysts forecast that Molson Coors Beverage Company will post 4.79 EPS for the current year.

Molson Coors Beverage Profile

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel’s, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.