Molson Coors Beverage (NYSE:TAP) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its holdings in Molson Coors Beverage (NYSE:TAP) by 783.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,049 shares of the company’s stock after buying an additional 1,817 shares during the quarter. First Horizon Advisors Inc.’s holdings in Molson Coors Beverage were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tennessee Valley Asset Management Partners purchased a new position in Molson Coors Beverage during the fourth quarter worth approximately $29,000. Montag A & Associates Inc. purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $31,000. Raleigh Capital Management Inc. grew its stake in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after buying an additional 186 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in Molson Coors Beverage in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.6 %

Shares of TAP stock opened at $53.73 on Wednesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 stock has a market capitalization of $11.38 billion, a P/E ratio of 10.75, a P/E/G ratio of 2.26 and a beta of 0.81. The stock has a 50-day simple moving average of $51.88 and a 200 day simple moving average of $58.04.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts expect that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.28%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TAP. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler lifted 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $60.53.

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.