Trustmark National Bank Trust Department Has $489,000 Stake in Molson Coors Beverage (NYSE:TAP)

Trustmark National Bank Trust Department reduced its position in shares of Molson Coors Beverage (NYSE:TAP) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,496 shares of the company’s stock after selling 1,687 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Molson Coors Beverage were worth $489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the second quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the third quarter worth about $35,000. GPS Wealth Strategies Group LLC grew its stake in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after buying an additional 294 shares in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in Molson Coors Beverage during the third quarter worth about $42,000. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TAP shares. TD Cowen reduced their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Piper Sandler lifted their target price 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. JPMorgan Chase & Co. raised their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Stock Up 0.1 %

TAP stock opened at $60.47 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $56.73 and its 200 day moving average is $54.46. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Sell-side analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal 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.