Kingsview Wealth Management LLC Buys 213 Shares of Molson Coors Beverage (NYSE:TAP)

Kingsview Wealth Management LLC raised its position in Molson Coors Beverage (NYSE:TAPFree Report) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,981 shares of the company’s stock after buying an additional 213 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Molson Coors Beverage were worth $317,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $25,000. Private Trust Co. NA grew its holdings in shares of Molson Coors Beverage by 125.4% during the 2nd quarter. Private Trust Co. NA now owns 444 shares of the company’s stock valued at $29,000 after purchasing an additional 247 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC boosted its position in Molson Coors Beverage by 85.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $33,000 after buying an additional 300 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Molson Coors Beverage in the 2nd quarter worth approximately $44,000. 73.95% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 0.0 %

NYSE:TAP opened at $61.29 on Wednesday. The company has a 50 day simple moving average of $62.20 and a two-hundred day simple moving average of $62.08. The company has a market cap of $13.22 billion, a PE ratio of 53.30, a price-to-earnings-growth ratio of 1.15 and a beta of 0.82. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. Molson Coors Beverage has a 12 month low of $49.32 and a 12 month high of $70.90.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, November 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 142.61%.

Analyst Ratings Changes

TAP has been the topic of a number of recent analyst reports. TheStreet downgraded shares of Molson Coors Beverage from a “b-” rating to a “c” rating in a research report on Monday, October 23rd. Jefferies Financial Group assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 13th. They set a “hold” rating and a $62.00 price target for the company. Deutsche Bank Aktiengesellschaft raised shares of Molson Coors Beverage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $57.00 to $58.00 in a research report on Friday, November 3rd. HSBC assumed coverage on shares of Molson Coors Beverage in a research note on Thursday, November 30th. They set a “hold” rating and a $68.00 price target for the company. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.27.

View Our Latest Analysis on Molson Coors Beverage

About Molson Coors Beverage

(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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.

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

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