Wells Fargo Boosts Molson Coors Beverage Outlook to Overweight
On November 8, 2024, Wells Fargo revised its assessment of Molson Coors Beverage (LSE:0K2K) from Underweight to Overweight.
Analysts Project 3.62% Stock Price Gain
The average one-year price target for Molson Coors Beverage, as of October 22, 2024, stands at 61.62 GBX/share. Forecasts vary, with a low estimate of 47.76 GBX and a high of 79.23 GBX. This average indicates a potential increase of 3.62% from its most recent closing price of 59.47 GBX/share.
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Annual Revenue and Earnings Projections
Molson Coors Beverage is projected to achieve annual revenue of 11,210MM, reflecting a 4.04% decline. Additionally, the expected non-GAAP EPS is 4.35.
Current Fund Sentiment
At present, 1,335 funds or institutions claim positions in Molson Coors Beverage, a slight decrease of 6 owners, or 0.45%, from the previous quarter. The average portfolio weight of all funds for 0K2K is 0.20%, which has risen by 7.96%. Over the last three months, total shares held by institutions rose by 1.14%, reaching 208,946K shares.
Among significant stakeholders, Dodge & Cox commands 14,575K shares, giving it a 7.57% ownership stake. This marks an increase from its previous holding of 14,515K shares, though the firm’s overall allocation in 0K2K decreased by 21.48% in the last quarter.
The DODGX – Dodge & Cox Stock Fund shares 10,727K shares, representing 5.57% ownership, with no change in the last quarter.
Meanwhile, LSV Asset Management holds 6,306K shares for a 3.27% ownership, down from 6,331K shares previously, reflecting a 0.40% decrease in its allocation over the past quarter.
Vanguard Total Stock Market Index Fund Investor Shares own 5,635K shares, or 2.93% of the company, which is an increase from its earlier holding of 5,584K shares, although its allocation slashed by 25.82% last quarter.
The Pacer US Cash Cows 100 ETF (COWZ) increased its position significantly, holding 5,475K shares, thereby capturing 2.84% ownership. This reflects a remarkable increase of 37.35% from its last reported 3,430K shares.
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This story originally appeared on Fintel.
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