Kestra Private Wealth Services LLC Has $1.97 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Kestra Private Wealth Services LLC lifted its stake in Molson Coors Beverage (NYSE:TAP) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,293 shares of the company’s stock after purchasing an additional 1,867 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Molson Coors Beverage were worth $1,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clark Estates Inc. NY boosted its position in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after purchasing an additional 563 shares during the period. Qsemble Capital Management LP boosted its position in Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares during the period. Principal Financial Group Inc. boosted its position in Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the period. Finally, FMR LLC boosted its position in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after acquiring an additional 134,689 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.6 %

Shares of TAP stock opened at $54.00 on Wednesday. The stock’s 50 day simple moving average is $56.74 and its 200 day simple moving average is $56.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Barclays decreased their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Needham & Company LLC started coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage 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.