Sage Capital Advisors llc Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Sage Capital Advisors llc lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 188.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,948 shares of the company’s stock after purchasing an additional 97,378 shares during the period. Molson Coors Beverage accounts for approximately 2.2% of Sage Capital Advisors llc’s portfolio, making the stock its 9th biggest holding. Sage Capital Advisors llc owned 0.07% of Molson Coors Beverage worth $8,567,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage in the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new position in Molson Coors Beverage in the second quarter worth $27,000. Raleigh Capital Management Inc. grew its holdings 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 worth $32,000 after purchasing an additional 501 shares during the last quarter. GPS Wealth Strategies Group LLC raised 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 buying an additional 294 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Molson Coors Beverage during the 4th quarter worth about $36,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on TAP. Piper Sandler increased their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays upped their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Bank of America reduced their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Citigroup cut their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.21.

Molson Coors Beverage Stock Down 1.9 %

Shares of Molson Coors Beverage stock opened at $53.98 on Wednesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year 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. The company has a market capitalization of $11.44 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. The business has a 50-day moving average of $54.40 and a two-hundred day moving average of $55.96.

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

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) 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.