SkyView Investment Advisors LLC Has $768,000 Stake in Molson Coors Beverage (NYSE:TAP)

SkyView Investment Advisors LLC raised its position in Molson Coors Beverage (NYSE:TAP) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,102 shares of the company’s stock after acquiring an additional 274 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vinva Investment Management Ltd lifted its stake in Molson Coors Beverage by 91.5% in the 4th quarter. Vinva Investment Management Ltd now owns 96,478 shares of the company’s stock valued at $5,909,000 after purchasing an additional 46,101 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Molson Coors Beverage by 153.7% during the 1st quarter. Nordea Investment Management AB now owns 25,830 shares of the company’s stock worth $1,730,000 after acquiring an additional 15,648 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after acquiring an additional 17,062 shares during the period. Wakefield Asset Management LLLP increased its holdings in shares of Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after acquiring an additional 29,552 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Molson Coors Beverage by 220.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock valued at $32,910,000 after acquiring an additional 336,496 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 2.7 %

TAP stock opened at $56.83 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The business has a 50-day simple moving average of $54.03 and a 200 day simple moving average of $56.58. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap 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 issued its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS. Sell-side analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed 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 yield of 3.10%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TAP shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Barclays increased their price target on shares of 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 boosted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup lowered their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $60.53.

About Molson Coors Beverage

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.