Poehling Capital Management INC. Buys Shares of 17,106 Molson Coors Beverage (NYSE:TAP)

Poehling Capital Management INC. purchased a new stake in Molson Coors Beverage (NYSE:TAP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 17,106 shares of the company’s stock, valued at approximately $869,000.

A number of other institutional investors also recently modified their holdings of TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth about $26,000. Raleigh Capital Management Inc. lifted its stake in Molson Coors Beverage by 2,087.5% in 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 during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Molson Coors Beverage during the fourth quarter worth $36,000. Crewe Advisors LLC acquired a new position in shares of Molson Coors Beverage during the first quarter worth $43,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of 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 acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the subject of a number of recent research reports. Bank of America lowered their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Piper Sandler upped their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $60.53.

Molson Coors Beverage Trading Up 1.2 %

NYSE:TAP opened at $54.94 on Friday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month 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 stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.33 and a beta of 0.81. The firm has a fifty day simple moving average of $53.30 and a two-hundred day simple moving average of $57.16.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. Analysts expect that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.20%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

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.