Axxcess Wealth Management LLC Buys 832 Shares of Molson Coors Beverage (NYSE:TAP)

Axxcess Wealth Management LLC raised its holdings in Molson Coors Beverage (NYSE:TAP) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,880 shares of the company’s stock after buying an additional 832 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Molson Coors Beverage were worth $597,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Czech National Bank grew its position in shares of Molson Coors Beverage by 0.5% in the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after purchasing an additional 174 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after purchasing an additional 186 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Molson Coors Beverage by 1.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its position in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after purchasing an additional 221 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

NYSE:TAP traded up $0.32 during mid-day trading on Friday, hitting $54.33. 1,631,950 shares of the company traded hands, compared to its average volume of 1,733,013. The stock’s fifty day moving average price is $52.04 and its 200-day moving average price is $59.33. Molson Coors Beverage has a one year low of $49.19 and a one year high of $70.89. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Research analysts anticipate that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.24%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TAP shares. Piper Sandler lowered their price objective on 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. Evercore ISI lowered their price objective 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. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Molson Coors Beverage from $62.00 to $56.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Citigroup decreased 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. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.47.

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.