Molson Coors Beverage (NYSE:TAP) Holdings Trimmed by Arkadios Wealth Advisors

Arkadios Wealth Advisors cut its holdings in Molson Coors Beverage (NYSE:TAP) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 11,657 shares of the company’s stock after selling 355 shares during the quarter. Arkadios Wealth Advisors’ holdings in Molson Coors Beverage were worth $593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $127,337,000. Capital International Investors increased its holdings in shares of Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after buying an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $53,096,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Molson Coors Beverage by 220.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock worth $32,910,000 after acquiring an additional 336,496 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Molson Coors Beverage by 166.5% in the 4th quarter. KBC Group NV now owns 450,649 shares of the company’s stock worth $27,584,000 after acquiring an additional 281,580 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.4 %

Shares of NYSE TAP traded up $0.19 during mid-day trading on Thursday, reaching $53.65. The company had a trading volume of 1,020,505 shares, compared to its average volume of 1,909,849. The stock has a market capitalization of $11.37 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 stock’s 50 day moving average is $52.28 and its 200-day moving average is $57.77.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted $1.78 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Analysts Set New Price Targets

Several brokerages have recently commented on TAP. Barclays upped their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. TD Cowen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and dropped their target price for the stock from $68.00 to $58.00 in a research report on Wednesday, August 7th. Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler lifted their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.53.

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.