Molson Coors Beverage (NYSE:TAP) Shares Sold by Trustmark National Bank Trust Department

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

A number of other large investors also recently added to or reduced their stakes in TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage in the second quarter valued at $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 valued at $33,000 after acquiring an additional 294 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at $35,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at $42,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $60.47 on Friday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $12.46 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.35 and a beta of 0.82. The company’s fifty day moving average price is $56.73 and its two-hundred day moving average price is $54.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 EPS. On average, research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TAP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group raised their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of 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 research report on Friday, November 8th. Finally, Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. 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 has an average rating of “Hold” and an average price target of $60.31.

About Molson Coors Beverage

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.