Measured Wealth Private Client Group LLC Has $917,000 Stock Position in Molson Coors Beverage (NYSE:TAP)

Measured Wealth Private Client Group LLC grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,637 shares of the company’s stock after buying an additional 1,058 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Molson Coors Beverage were worth $917,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Corient Private Wealth LLC grew its holdings in shares of Molson Coors Beverage by 254.5% during the fourth quarter. Corient Private Wealth LLC now owns 42,240 shares of the company’s stock valued at $2,586,000 after buying an additional 30,323 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in Molson Coors Beverage by 91.5% during the fourth quarter. Vinva Investment Management Ltd now owns 96,478 shares of the company’s stock worth $5,909,000 after purchasing an additional 46,101 shares during the last quarter. Norges Bank purchased a new position in Molson Coors Beverage during the fourth quarter worth about $127,337,000. Los Angeles Capital Management LLC purchased a new position in Molson Coors Beverage during the first quarter worth about $3,911,000. Finally, Franklin Resources Inc. boosted its holdings in Molson Coors Beverage by 24.7% during the fourth quarter. Franklin Resources Inc. now owns 236,511 shares of the company’s stock worth $14,477,000 after purchasing an additional 46,877 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on TAP shares. Bank of America cut their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Citigroup dropped 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Barclays dropped 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. Finally, The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.07.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock traded down $0.04 during midday trading on Tuesday, reaching $50.56. 1,368,363 shares of the stock were exchanged, compared to its average volume of 1,952,404. The company’s fifty day moving average is $54.54 and its 200-day moving average is $60.46. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The firm has a market cap of $10.71 billion, a PE ratio of 10.11, a PEG ratio of 1.83 and a beta of 0.81. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s payout ratio is 35.20%.

About Molson Coors Beverage

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.