Molson Coors Beverage (NYSE:TAP) Shares Sold by Powell Investment Advisors LLC

Powell Investment Advisors LLC reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,653 shares of the company’s stock after selling 918 shares during the period. Powell Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $42,000. True Wealth Design LLC acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $59,000. Allworth Financial LP lifted its holdings in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $77,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TAP shares. BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Barclays decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.36.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE TAP opened at $54.23 on Monday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm’s 50 day moving average price is $57.05 and its 200 day moving average price is $56.27. The firm has a market cap of $11.17 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.92 earnings per share. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.25%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.