Pallas Capital Advisors LLC bought a new stake in shares of Molson Coors Beverage (NYSE:TAP – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,153 shares of the company’s stock, valued at approximately $592,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $29,000. Montag A & Associates Inc. bought a new stake in Molson Coors Beverage during the fourth quarter worth approximately $31,000. Raleigh Capital Management Inc. boosted its position in Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the period. GPS Wealth Strategies Group LLC boosted its position in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the period. Finally, Transcendent Capital Group LLC bought a new stake in Molson Coors Beverage during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.
Molson Coors Beverage Price Performance
Molson Coors Beverage stock traded up $0.41 during mid-day trading on Wednesday, hitting $54.14. 500,851 shares of the company were exchanged, compared to its average volume of 1,935,666. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $51.88 and a 200 day moving average of $58.04. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a market capitalization of $11.47 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.
Molson Coors Beverage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.25%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TAP. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Evercore ISI decreased their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Piper Sandler upped their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group decreased their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.53.
Get Our Latest Stock Analysis on Molson Coors Beverage
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.
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