Kestra Private Wealth Services LLC Acquires 174 Shares of Molson Coors Beverage (NYSE:TAP)

Kestra Private Wealth Services LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,589 shares of the company’s stock after acquiring an additional 174 shares during the period. Kestra Private Wealth Services LLC’s holdings in Molson Coors Beverage were worth $709,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TAP. IMPACTfolio LLC raised its holdings in shares of Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after purchasing an additional 176 shares during the last quarter. Syntax Advisors LLC raised its stake in Molson Coors Beverage by 5.0% during the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after buying an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Molson Coors Beverage by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after buying an additional 196 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of Molson Coors Beverage by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Molson Coors Beverage by 4.5% in the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock worth $317,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Barclays cut their target price on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Finally, Citigroup reduced their price objective on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Stock Up 0.1 %

NYSE TAP opened at $57.85 on Monday. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $12.30 billion, a PE ratio of 11.57, a P/E/G ratio of 2.00 and a beta of 0.86. The stock’s 50 day moving average is $64.77 and its 200 day moving average is $62.36.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is presently 35.20%.

Molson Coors Beverage Company 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.