Molson Coors Beverage (NYSE:TAP) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,415 shares of the company’s stock after buying an additional 1,859 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Molson Coors Beverage were worth $726,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new position in shares of Molson Coors Beverage during the second quarter valued at $25,000. Private Trust Co. NA lifted 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 in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at about $32,000. Steward Partners Investment Advisory LLC lifted its stake in Molson Coors Beverage by 85.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $44,000. 73.95% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $61.29 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $62.20 and its 200 day simple moving average is $62.08. Molson Coors Beverage has a 12 month low of $49.32 and a 12 month high of $70.90. The firm has a market capitalization of $13.22 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 1.15 and a beta of 0.82.

Molson Coors Beverage Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.68%. The ex-dividend date was Thursday, November 30th. Molson Coors Beverage’s payout ratio is 142.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TAP shares. Jefferies Financial Group assumed coverage on Molson Coors Beverage in a report on Monday, November 13th. They set a “hold” rating and a $62.00 target price on the stock. Wedbush restated a “neutral” rating and set a $70.00 price objective on shares of Molson Coors Beverage in a research report on Monday, November 6th. HSBC began coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They issued a “hold” rating and a $68.00 target price for the company. Barclays decreased their price target on Molson Coors Beverage from $65.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised Molson Coors Beverage from a “sell” rating to a “hold” rating and raised their target price for the stock from $57.00 to $58.00 in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.27.

Read Our Latest Stock 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, 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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