Molson Coors Beverage Company Class B (NYSE:TAP) traded at a new 52-week high today of $58.42. This new high was reached on approximately average trading volume as 1.1 million shares traded hands, while the average 30-day volume is approximately 1.5 million shares.
Molson Coors Beverage Company Class B (NYSE:TAP) defies analysts with a current price ($57.91) 9.1% above its average consensus price target of $52.67.
Molson Coors Beverage Company Class B share prices have moved between a 52-week high of $58.42 and a 52-week low of $42.46 and are now trading 36% above that low price at $57.91 per share.
Molson Coors is the fifth-largest beer producer globally, boasting top-two positioning in the U.S., Canada, and United Kingdom. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken), and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily using independent distributors in the U.S. but deploying hybrid models in Canada and Europe.
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