Family Firm Inc. purchased a new stake in Molson Coors Beverage (NYSE:TAP – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 509 shares of the company’s stock, valued at approximately $26,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TAP. Montag A & Associates Inc. purchased a new stake in Molson Coors Beverage in the 4th quarter valued at $31,000. Raleigh Capital Management Inc. raised its stake in Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in 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 purchasing an additional 294 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Molson Coors Beverage Stock Performance
Shares of TAP stock opened at $53.83 on Friday. The firm has a 50 day moving average of $52.07 and a two-hundred day moving average of $57.90. The stock has a market capitalization of $11.41 billion, a PE ratio of 10.77, a P/E/G ratio of 2.26 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.
Molson Coors Beverage Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.
Analyst Ratings Changes
Several research analysts recently weighed in on TAP shares. Wells Fargo & Company increased their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Barclays increased their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Evercore ISI lowered their target price on shares of 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, Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.53.
Check Out Our Latest Research Report on Molson Coors Beverage
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.
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