Integrated Investment Consultants LLC Has $237,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Integrated Investment Consultants LLC trimmed its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 8.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,875 shares of the company’s stock after selling 369 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Molson Coors Beverage were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Molson Coors Beverage by 25.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,792 shares during the period. American Century Companies Inc. boosted its position in Molson Coors Beverage by 17.1% during the first quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock valued at $985,000 after acquiring an additional 2,700 shares during the last quarter. US Bancorp DE grew its holdings in Molson Coors Beverage by 45.7% during the 1st quarter. US Bancorp DE now owns 3,834 shares of the company’s stock worth $205,000 after acquiring an additional 1,203 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Molson Coors Beverage by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock worth $889,000 after acquiring an additional 720 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its stake in shares of Molson Coors Beverage by 26.3% in the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock valued at $769,000 after purchasing an additional 3,001 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

NYSE TAP traded down $0.02 during trading hours on Wednesday, reaching $68.17. 99,144 shares of the company were exchanged, compared to its average volume of 1,640,842. Molson Coors Beverage has a 1 year low of $51.45 and a 1 year high of $70.90. The business’s 50 day simple moving average is $63.87 and its 200-day simple moving average is $61.98. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $14.70 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.35 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. On average, equities research analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.58%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TAP. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Piper Sandler started coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective for the company. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Finally, Barclays upped their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $67.67.

Read Our Latest Analysis on Molson Coors Beverage

Molson Coors Beverage Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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