Atlas Capital Advisors LLC Has $115,000 Stock Position in Molson Coors Beverage (NYSE:TAP)

Atlas Capital Advisors LLC decreased its position in Molson Coors Beverage (NYSE:TAP) by 23.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,711 shares of the company’s stock after selling 531 shares during the period. Atlas Capital Advisors LLC’s holdings in Molson Coors Beverage were worth $115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Tennessee Valley Asset Management Partners acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $29,000. Montag A & Associates Inc. acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $31,000. Stone House Investment Management LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $32,000. Raleigh Capital Management Inc. grew its holdings in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares during the period. Finally, Transcendent Capital Group LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Evercore ISI reduced their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, UBS Group reduced their target price on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.07.

Molson Coors Beverage Stock Down 0.7 %

Shares of TAP stock opened at $50.69 on Thursday. 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’s 50-day moving average is $55.62 and its 200-day moving average is $60.82. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 1.84 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 announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business earned $0.54 EPS. Molson Coors Beverage’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts predict that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.44 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.47%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Molson Coors Beverage Company 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.