Minot Wealth Management LLC Takes Position in Molson Coors Beverage (NYSE:TAP)

Minot Wealth Management LLC purchased a new position in Molson Coors Beverage (NYSE:TAPGet Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,060 shares of the company’s stock, valued at approximately $766,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Molson Coors Beverage by 5.6% in the 4th quarter. HighTower Advisors LLC now owns 27,151 shares of the company’s stock worth $1,258,000 after acquiring an additional 1,438 shares during the period. Rhumbline Advisers lifted its holdings in Molson Coors Beverage by 0.7% in the 4th quarter. Rhumbline Advisers now owns 274,785 shares of the company’s stock valued at $12,736,000 after acquiring an additional 1,804 shares during the last quarter. abrdn plc boosted its position in shares of Molson Coors Beverage by 2.8% during the 4th quarter. abrdn plc now owns 180,987 shares of the company’s stock valued at $8,389,000 after purchasing an additional 4,917 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Molson Coors Beverage by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,487,896 shares of the company’s stock worth $68,964,000 after purchasing an additional 56,515 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $20,079,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $50.44 on Monday. The firm has a fifty day moving average of $55.20 and a two-hundred day moving average of $54.10. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.48. Molson Coors Beverage has a 12-month low of $42.46 and a 12-month high of $60.12. The firm has a market capitalization of $10.93 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 3.03 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAPGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Molson Coors Beverage had a return on equity of 6.46% and a net margin of 5.73%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts expect that Molson Coors Beverage will post 3.91 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, September 1st. Molson Coors Beverage’s payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TAP. TheStreet lowered shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a research report on Thursday, August 4th. Credit Suisse Group reduced their target price on Molson Coors Beverage from $50.00 to $49.00 and set an “underperform” rating for the company in a report on Wednesday, August 3rd. Redburn Partners upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating in a report on Wednesday, July 13th. Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage to $57.00 in a report on Tuesday, August 9th. Finally, Bryan, Garnier & Co downgraded shares of Molson Coors Beverage from a “buy” rating to a “sell” rating and set a $54.00 target price on the stock. in a research report on Thursday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $53.50.

About Molson Coors Beverage

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Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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