HighTower Advisors LLC Has $1.86 Million Holdings in Molson Coors Beverage (NYSE:TAP)

HighTower Advisors LLC decreased its position in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 52.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,015 shares of the company’s stock after selling 40,370 shares during the quarter. HighTower Advisors LLC’s holdings in Molson Coors Beverage were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TAP. Beacon Capital Management LLC boosted its stake in shares of Molson Coors Beverage by 1,781.3% during the fourth quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock valued at $31,000 after purchasing an additional 570 shares in the last quarter. Red Tortoise LLC acquired a new stake in Molson Coors Beverage during the 4th quarter worth approximately $38,000. Lazard Asset Management LLC increased its position in 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 acquiring an additional 373 shares during the period. Kistler Tiffany Companies LLC acquired a new position in Molson Coors Beverage in the 4th quarter valued at approximately $42,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at $70,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Molson Coors Beverage Stock Down 1.2 %

Molson Coors Beverage stock opened at $60.91 on Thursday. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of -51.18, a price-to-earnings-growth ratio of 3.42 and a beta of 0.83. The firm’s fifty day moving average price is $57.38 and its two-hundred day moving average price is $54.08. Molson Coors Beverage has a 1-year low of $46.69 and a 1-year high of $66.67. The company has a current ratio of 0.77, a quick ratio of 0.49 and a debt-to-equity ratio of 0.48.

Molson Coors Beverage (NYSE:TAPGet Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.28. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Molson Coors Beverage had a negative net margin of 1.97% and a positive return on equity of 7.16%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. On average, equities research analysts predict that Molson Coors Beverage will post 4.32 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be paid a $0.41 dividend. The ex-dividend date is Thursday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. Molson Coors Beverage’s payout ratio is -137.81%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup started coverage on Molson Coors Beverage in a report on Thursday, February 16th. They issued a “neutral” rating and a $55.00 price objective for the company. Jefferies Financial Group lifted their price objective on Molson Coors Beverage from $68.00 to $74.00 in a research note on Friday, May 12th. Bank of America boosted their price target on shares of Molson Coors Beverage from $52.00 to $54.00 in a research report on Wednesday, May 3rd. Roth Capital reiterated a “buy” rating on shares of Molson Coors Beverage in a research report on Tuesday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of Molson Coors Beverage from $45.00 to $48.00 and gave the company an “underweight” rating in a report on Wednesday, February 22nd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.87.

About Molson Coors Beverage

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

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

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