Aviance Capital Partners LLC Grows Position in Molson Coors Beverage (NYSE:TAP)

Aviance Capital Partners LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,665 shares of the company’s stock after purchasing an additional 1,303 shares during the quarter. Aviance Capital Partners LLC’s holdings in Molson Coors Beverage were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $29,000. Stone House Investment Management LLC bought a new stake in shares of Molson Coors Beverage during the third quarter valued at about $32,000. Montag A & Associates Inc. bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at about $31,000. Raleigh Capital Management Inc. increased its position in shares of Molson Coors Beverage by 2,087.5% during the fourth 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 bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at about $36,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TAP has been the topic of several analyst reports. Citigroup decreased their price target on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler initiated coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. UBS Group decreased their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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, Bank of America decreased their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $65.07.

Molson Coors Beverage Trading Down 0.4 %

Shares of NYSE:TAP traded down $0.20 during trading on Monday, reaching $50.63. 131,317 shares of the company traded hands, compared to its average volume of 1,943,441. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.83 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. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $55.09 and its 200-day moving average is $60.62.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm 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. This represents a $1.76 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s payout ratio is 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.