Molson Coors Beverage (NYSE:TAP) Shares Acquired by AdvisorShares Investments LLC

AdvisorShares Investments LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,958 shares of the company’s stock after acquiring an additional 800 shares during the quarter. AdvisorShares Investments LLC’s holdings in Molson Coors Beverage were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new position in Molson Coors Beverage in the 4th quarter worth $29,000. Montag A & Associates Inc. acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $31,000. Stone House Investment Management LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $32,000. Allworth Financial LP raised its stake in shares of Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their target price on shares of Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Bank of America lowered their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Evercore ISI lowered their price objective on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $65.07.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded down $0.48 on Friday, hitting $51.94. The company had a trading volume of 2,094,718 shares, compared to its average volume of 1,868,597. The business has a 50-day simple moving average of $60.06 and a 200-day simple moving average of $61.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The company has a market cap of $11.00 billion, a PE ratio of 10.46, a PEG ratio of 1.90 and a beta of 0.81. Molson Coors Beverage has a 52 week low of $51.90 and a 52 week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, April 30th. The company reported $0.95 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 business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts expect that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, June 7th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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.