Molson Coors Beverage (NYSE:TAP) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,365 shares of the company’s stock after buying an additional 8,054 shares during the quarter. Kingsview Wealth Management LLC owned 0.07% of Molson Coors Beverage worth $8,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Molson Coors Beverage by 66.5% in the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $48,202,000. Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $53,096,000. Millennium Management LLC grew its position in shares of Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after purchasing an additional 645,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after purchasing an additional 434,685 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TAP shares. Barclays increased their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. UBS Group raised their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen cut their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Trading Down 0.2 %

NYSE TAP opened at $60.36 on Friday. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.34 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company’s 50 day moving average price is $56.84 and its 200 day moving average price is $54.45.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Molson Coors Beverage Company 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.