Xponance Inc. lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 2.3% in the second quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its position in Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in Molson Coors Beverage by 83.8% in the 2nd 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 during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Molson Coors Beverage during the fourth quarter worth $36,000. 78.46% of the stock is currently owned by institutional investors.
Molson Coors Beverage Stock Performance
Shares of Molson Coors Beverage stock opened at $56.83 on Friday. The business has a 50-day moving average price of $54.03 and a two-hundred day moving average price 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 current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.04 billion, a P/E ratio of 11.37, a PEG ratio of 2.38 and a beta of 0.81.
Molson Coors Beverage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on TAP. Citigroup dropped their price target on 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. Piper Sandler lifted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research note 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 research report on Wednesday, August 7th. Finally, TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their target price for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Three equities research 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’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $60.53.
Read Our Latest Analysis on Molson Coors Beverage
Molson Coors Beverage 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.
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