New Century Financial Group LLC Has $1.02 Million Holdings in Molson Coors Beverage (NYSE:TAP)

New Century Financial Group LLC raised its position in Molson Coors Beverage (NYSE:TAP) by 21.6% during the second quarter, Holdings Channel reports. The firm owned 20,004 shares of the company’s stock after purchasing an additional 3,549 shares during the period. New Century Financial Group LLC’s holdings in Molson Coors Beverage were worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TAP. Czech National Bank raised its stake in Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Empirical Finance LLC raised its position in shares of Molson Coors Beverage by 3.5% in the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after acquiring an additional 226 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Molson Coors Beverage by 1.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after purchasing an additional 231 shares during the period. Affinity Investment Advisors LLC boosted its position in shares of Molson Coors Beverage by 2.9% during the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after purchasing an additional 246 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Molson Coors Beverage by 0.8% during the first quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 1.2 %

TAP stock opened at $57.52 on Tuesday. The firm has a market capitalization of $12.19 billion, a PE ratio of 11.50, a P/E/G ratio of 2.38 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock’s 50 day moving average is $54.13 and its 200-day moving average is $56.45.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the business earned $1.78 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

Wall Street Analyst Weigh In

TAP has been the topic of several recent analyst reports. Bank of America dropped their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price 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. 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 report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average 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.