Molson Coors Beverage (NYSE:TAP) Position Trimmed by Auxier Asset Management

Auxier Asset Management lowered its stake in Molson Coors Beverage (NYSE:TAP) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,966 shares of the company’s stock after selling 795 shares during the period. Auxier Asset Management owned approximately 0.05% of Molson Coors Beverage worth $5,590,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage in the second quarter worth about $26,000. Raleigh Capital Management Inc. boosted its stake in Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the period. Transcendent Capital Group LLC purchased a new position in Molson Coors Beverage during the 4th quarter worth approximately $36,000. Crewe Advisors LLC acquired a new stake in Molson Coors Beverage during the 1st quarter valued at $43,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TAP shares. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and lowered their price target for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Barclays upped their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Piper Sandler raised their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $54.49 on Friday. The stock has a market capitalization of $11.54 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.81. The business has a 50-day moving average of $53.77 and a two-hundred day moving average of $56.95. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the company earned $1.78 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.23%. Molson Coors Beverage’s payout ratio is presently 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.