Patriot Investment Management Group Inc. Has $320,000 Stock Position in Molson Coors Beverage (NYSE:TAP)

Patriot Investment Management Group Inc. cut its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,564 shares of the company’s stock after selling 1,230 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Molson Coors Beverage were worth $320,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Family Firm Inc. bought a new stake in shares of Molson Coors Beverage in the second quarter valued at about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. boosted its stake in Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in shares of Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $36,000. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

TAP has been the subject of several analyst reports. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price target on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.21.

Molson Coors Beverage Stock Up 0.1 %

Shares of NYSE TAP opened at $54.45 on Monday. The firm has a 50 day moving average price of $54.49 and a 200 day moving average price of $55.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The stock has a market cap of $11.54 billion, a P/E ratio of 10.89, a P/E/G ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts expect that Molson Coors Beverage will post 5.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.23%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 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.