Creative Planning Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Creative Planning increased its holdings in Molson Coors Beverage (NYSE:TAP) by 6.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,472 shares of the company’s stock after acquiring an additional 1,003 shares during the quarter. Creative Planning’s holdings in Molson Coors Beverage were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TAP. Quarry LP boosted its holdings in shares of Molson Coors Beverage by 69.3% in the fourth quarter. Quarry LP now owns 657 shares of the company’s stock worth $40,000 after buying an additional 269 shares during the last quarter. Raleigh Capital Management Inc. raised its stake 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 acquiring an additional 501 shares during the period. Virtu Financial LLC bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $722,000. Goldman Sachs Group Inc. raised its stake in Molson Coors Beverage by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock worth $85,479,000 after acquiring an additional 153,968 shares during the period. Finally, Transcendent Capital Group LLC bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.1 %

Shares of TAP opened at $54.45 on Friday. The company’s fifty day moving average is $54.49 and its 200 day moving average is $55.85. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a market capitalization of $11.54 billion, a PE ratio of 10.89, a P/E/G ratio of 2.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly 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 company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Molson Coors Beverage will post 5.74 earnings per share 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 paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised 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 note on Wednesday, August 7th. TD Cowen decreased their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday. Barclays raised their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.