Park Avenue Securities LLC Makes New $383,000 Investment in Molson Coors Beverage (NYSE:TAP)

Park Avenue Securities LLC bought a new stake in Molson Coors Beverage (NYSE:TAP) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,691 shares of the company’s stock, valued at approximately $383,000.

Several other institutional investors have also modified their holdings of the stock. Czech National Bank boosted its holdings in Molson Coors Beverage by 0.5% in the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after purchasing an additional 174 shares during the last quarter. IMPACTfolio LLC lifted its holdings in Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after purchasing an additional 176 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after purchasing an additional 200 shares during the last quarter. Finally, Kentucky Retirement Systems boosted its stake in Molson Coors Beverage by 1.5% during the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Bank of America decreased their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Citigroup dropped their target price on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $65.07.

Molson Coors Beverage Stock Up 0.4 %

Molson Coors Beverage stock opened at $50.83 on Friday. The firm has a market capitalization of $10.77 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.83 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $70.90. The stock’s fifty day simple moving average is $55.09 and its 200-day simple moving average is $60.65.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts expect that Molson Coors Beverage will post 5.68 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s payout ratio is 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.