Molson Coors Class B (TAP)

• Market cap: $12.2B
• 1 day: 1.18%
• 5 days: -2.48%
• 1 month: -1.72%
• 3 months: 8.90%
• 6 months: 17.20%
• Year to date: -4.40%
• 1 year: -3.13%
• 5 years: 10.17%
• 10 years: -21.92%
• Sector: Consumer Staples
• Industry: Malt Beverages

About: Molson Coors owns well-known beer brands including Miller, Coors, Blue Moon, and Carling and ranks as the second-largest beer maker in both value and volume terms in the us, Canada, and the United Kingdom. Through licensing agreements, the firm also brews and distributes beer and hard seltzer under partner brands from Heineken, Anheuser-Busch InBev, Asahi, and Coca-Cola. The brewer uses independent distributors in the us, given the three-tier distribution requirements, while using a combination of distributors and an in-house sales team in Canada and Europe. North America remains its largest market, contributing over 80% of total revenue.

Employees: 16,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

105% more call options, than puts

Call options by funds: $182M | Put options by funds: $88.5M

40% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 7 (+2) [Q3]

20% more first-time investments, than exits

New positions opened: 89 | Existing positions closed: 74

8% more capital invested

Capital invested by funds: $8.6B [Q2] → $9.3B (+$704M) [Q3]

2% more funds holding

Funds holding: 635 [Q2] → 650 (+15) [Q3]

1% more repeat investments, than reductions

Existing positions increased: 237 | Existing positions reduced: 234

3.67% less ownership

Funds ownership: 85.73% [Q2] → 82.06% (-3.67%) [Q3]

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $51 14% downside
• Avg. target: $64 8% upside
• High target: $74 25% upside

7 analyst ratings

• positive: 3 43%
• neutral: 3 43%
• negative: 1 14%

B of A Securities Bryan Spillane 40% 1-year accuracy 8 / 20 met price target	18% upside $70	Buy Upgraded	6 Dec 2024
Needham Gerald Pascarelli 17% 1-year accuracy 4 / 23 met price target	21% upside $72	Buy Initiated	6 Dec 2024
Exane BNP Paribas Kevin Grundy 14% 1-year accuracy 1 / 7 met price target	8% upside $64	Neutral Initiated	25 Nov 2024
Barclays Lauren Lieberman 46% 1-year accuracy 41 / 90 met price target	14% downside $51	Underweight Maintained	11 Nov 2024
Wells Fargo Chris Carey 33% 1-year accuracy 11 / 33 met price target	25% upside $74	Overweight Upgraded	8 Nov 2024