Crewe Advisors LLC Makes New $43,000 Investment in Molson Coors Beverage (NYSE:TAP)

Crewe Advisors LLC purchased a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 637 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TAP. Tennessee Valley Asset Management Partners bought a new position in Molson Coors Beverage in the 4th quarter valued at approximately $29,000. Montag A & Associates Inc. bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Molson Coors Beverage by 46.6% in the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Molson Coors Beverage in the fourth quarter valued at approximately $36,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Up 1.5 %

TAP traded up $0.81 during mid-day trading on Friday, reaching $54.82. 200,701 shares of the stock were exchanged, compared to its average volume of 1,924,237. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $70.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The stock has a market capitalization of $11.61 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The company has a 50 day moving average price of $52.04 and a two-hundred day moving average price of $59.33.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, research analysts anticipate that Molson Coors Beverage will post 5.58 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TAP shares. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Piper Sandler decreased their price target on shares of Molson Coors Beverage from $69.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Molson Coors Beverage from $62.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday. Evercore ISI reduced their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.47.

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.