Partnership Wealth Management LLC Invests $86,000 in Molson Coors Beverage (NYSE:TAP)

Partnership Wealth Management LLC bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,492 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Molson Coors Beverage by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock valued at $85,479,000 after buying an additional 153,968 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Molson Coors Beverage by 289.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 22,190 shares of the company’s stock worth $1,358,000 after acquiring an additional 16,490 shares during the period. State of Tennessee Treasury Department raised its position in shares of Molson Coors Beverage by 2.6% during the fourth quarter. State of Tennessee Treasury Department now owns 296,036 shares of the company’s stock valued at $18,120,000 after buying an additional 7,634 shares during the last quarter. Bridgewater Associates LP increased its holdings in Molson Coors Beverage by 26.7% in the 4th quarter. Bridgewater Associates LP now owns 465,219 shares of the company’s stock valued at $28,476,000 after acquiring an additional 97,900 shares during the last quarter. Finally, Palogic Value Management L.P. lifted its position in shares of Molson Coors Beverage by 3.3% in the fourth quarter. Palogic Value Management L.P. now owns 40,488 shares of the company’s stock worth $2,478,000 after buying an additional 1,293 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

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

Molson Coors Beverage Stock Performance

TAP opened at $53.98 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm has a 50 day moving average of $54.40 and a two-hundred day moving average of $55.96. The firm has a market capitalization of $11.44 billion, a PE ratio of 10.80, 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 (EPS) 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 company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.26%. Molson Coors Beverage’s dividend payout ratio is presently 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.