Molson Coors Beverage (NYSE:TAP) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Molson Coors Beverage (NYSE:TAP) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,572 shares of the company’s stock after buying an additional 563 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Molson Coors Beverage were worth $2,046,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Clark Estates Inc. NY increased its stake in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares in the last quarter. Qsemble Capital Management LP increased its position in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after buying an additional 9,234 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after buying an additional 9,510 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $1,237,000. Finally, FMR LLC grew its stake in Molson Coors Beverage by 23.2% in the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after acquiring an additional 134,689 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.8 %

Shares of TAP opened at $54.26 on Wednesday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $59.29 and a two-hundred day simple moving average of $55.85. The company has a market capitalization of $11.18 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.92 earnings per share. As a group, equities analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen reduced their price objective 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, October 8th. Barclays upped their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Needham & Company LLC started coverage on Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company. Finally, BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $62.00.

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.