AdvisorShares Investments LLC Acquires 800 Shares of Molson Coors Beverage (NYSE:TAP)

AdvisorShares Investments LLC lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,958 shares of the company’s stock after purchasing an additional 800 shares during the period. AdvisorShares Investments LLC’s holdings in Molson Coors Beverage were worth $365,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares during the last quarter. IMPACTfolio LLC increased its holdings in Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Syntax Advisors LLC increased its holdings in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after purchasing an additional 185 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares during the last quarter. Finally, Kentucky Retirement Systems increased its holdings in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP stock traded down $0.48 on Friday, reaching $51.94. The company had a trading volume of 2,094,718 shares, compared to its average volume of 1,868,597. The stock has a market capitalization of $11.00 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.90 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a one year low of $51.90 and a one year high of $70.90. The business’s 50-day moving average is $60.06 and its 200 day moving average is $61.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities research analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Wall Street Analyst Weigh In

Several research firms have commented on TAP. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, UBS Group decreased their price target on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $65.07.

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.