1,492 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Partnership Wealth Management LLC

Partnership Wealth Management LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,492 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Molson Coors Beverage by 12.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock valued at $85,479,000 after purchasing an additional 153,968 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Molson Coors Beverage by 289.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 22,190 shares of the company’s stock worth $1,358,000 after buying an additional 16,490 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in Molson Coors Beverage by 2.6% in the 4th quarter. State of Tennessee Treasury Department now owns 296,036 shares of the company’s stock valued at $18,120,000 after buying an additional 7,634 shares in the last quarter. Bridgewater Associates LP increased its stake in shares of Molson Coors Beverage by 26.7% in the 4th quarter. Bridgewater Associates LP now owns 465,219 shares of the company’s stock worth $28,476,000 after acquiring an additional 97,900 shares during the last quarter. Finally, Palogic Value Management L.P. raised its holdings in shares of Molson Coors Beverage by 3.3% during the 4th quarter. Palogic Value Management L.P. now owns 40,488 shares of the company’s stock worth $2,478,000 after acquiring an additional 1,293 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.9 %

Shares of NYSE:TAP opened at $53.98 on Wednesday. The firm has a market capitalization of $11.44 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. 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 firm’s 50-day moving average is $54.40 and its two-hundred day moving average is $55.96.

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

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s payout ratio is currently 35.20%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TAP shares. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target 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. Bank of America decreased their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upped their price target on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.21.

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.