Kestra Advisory Services LLC Has $1.08 Million Position in Molson Coors Beverage (NYSE:TAP)

Kestra Advisory Services LLC lowered its stake in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 12.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,502 shares of the company’s stock after selling 3,152 shares during the quarter. Kestra Advisory Services LLC’s holdings in Molson Coors Beverage were worth $1,080,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at $31,000. CX Institutional bought a new position in shares of Molson Coors Beverage in the 2nd quarter worth about $33,000. Jones Financial Companies Lllp raised its position in shares of Molson Coors Beverage by 529.5% in the 2nd quarter. Jones Financial Companies Lllp now owns 661 shares of the company’s stock worth $36,000 after acquiring an additional 556 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Molson Coors Beverage by 304.9% in the 2nd quarter. Global Retirement Partners LLC now owns 664 shares of the company’s stock valued at $36,000 after buying an additional 500 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Molson Coors Beverage by 96.4% in the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after buying an additional 373 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TAP. Deutsche Bank Aktiengesellschaft downgraded Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price target for the company. in a research note on Tuesday, December 6th. Credit Suisse Group reduced their price target on shares of Molson Coors Beverage from $49.00 to $48.00 and set an “underperform” rating for the company in a research report on Thursday, October 27th. Wedbush initiated coverage on shares of Molson Coors Beverage in a research report on Monday, October 10th. They set a “neutral” rating and a $50.00 price target for the company. Wells Fargo & Company lowered shares of Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $52.00 to $45.00 in a research report on Tuesday, January 3rd. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.00.

Molson Coors Beverage Trading Up 2.8 %

NYSE:TAP opened at $51.47 on Wednesday. Molson Coors Beverage has a one year low of $46.69 and a one year high of $60.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.52 and a current ratio of 0.77. The firm has a market cap of $11.14 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.12 and a beta of 0.86. The firm has a 50-day simple moving average of $52.20 and a 200-day simple moving average of $52.42.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.04). The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.86 billion. Molson Coors Beverage had a net margin of 3.85% and a return on equity of 5.78%. Equities analysts anticipate that Molson Coors Beverage will post 3.86 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, December 1st. Molson Coors Beverage’s dividend payout ratio is presently 66.67%.

About Molson Coors Beverage

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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. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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