Creative Planning Increases Stake in Molson Coors Beverage (NYSE:TAP)

Creative Planning increased its holdings in Molson Coors Beverage (NYSE:TAP) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,472 shares of the company’s stock after purchasing an additional 1,003 shares during the period. Creative Planning’s holdings in Molson Coors Beverage were worth $837,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Family Firm Inc. purchased a new stake in Molson Coors Beverage during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. boosted its position in Molson Coors Beverage by 2,087.5% during the 4th 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. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the 2nd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage during the 4th quarter valued at $36,000. Finally, Crewe Advisors LLC purchased a new stake in Molson Coors Beverage during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.1 %

Shares of Molson Coors Beverage stock opened at $54.45 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. The company has a 50-day moving average of $54.49 and a 200 day moving average of $55.85. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data 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 business 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 was down .4% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend yield of 3.23%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Barclays upped their price objective 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. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup decreased their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company 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 two have given a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $59.21.

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.