Xponance Inc. Sells 606 Shares of Molson Coors Beverage (NYSE:TAP)

Xponance Inc. lowered its holdings in Molson Coors Beverage (NYSE:TAP) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,189 shares of the company’s stock after selling 606 shares during the period. Xponance Inc.’s holdings in Molson Coors Beverage were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new position in Molson Coors Beverage during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. grew its stake in 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 purchasing an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $36,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP opened at $56.83 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The business has a fifty day simple moving average of $54.03 and a 200 day simple moving average of $56.64. 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 $12.04 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. Research analysts expect that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TAP shares. Barclays increased their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. UBS Group increased their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. 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 research note on Wednesday, August 7th. Citigroup cut their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group reduced their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average 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.