Alpha Omega Wealth Management LLC Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

Alpha Omega Wealth Management LLC increased its holdings in Molson Coors Beverage (NYSE:TAP) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,594 shares of the company’s stock after buying an additional 908 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Molson Coors Beverage were worth $4,061,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Family Firm Inc. purchased a new position in shares of Molson Coors Beverage during the 2nd quarter worth $26,000. Altshuler Shaham Ltd bought a new position in Molson Coors Beverage in the 2nd quarter worth $27,000. Raleigh Capital Management Inc. lifted its position in 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 purchasing an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC grew its holdings in Molson Coors Beverage by 83.8% during 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 during the period. Finally, Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage in the fourth quarter worth about $36,000. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TAP has been the subject of a number of recent research reports. Barclays boosted their price objective 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 upped their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Citigroup decreased their price target on 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $55.53 on Friday. 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 has a 1-year low of $49.19 and a 1-year high of $69.18. The business has a 50 day simple moving average of $54.28 and a two-hundred day simple moving average of $56.38. The stock has a market capitalization of $11.77 billion, a PE ratio of 11.11, a P/E/G ratio of 2.38 and a beta of 0.81.

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, beating analysts’ consensus estimates of $1.68 by $0.24. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. On average, research analysts predict that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

About Molson Coors Beverage

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.