Shelton Capital Management Invests $2.34 Million in Molson Coors Beverage (NYSE:TAP)

Shelton Capital Management bought a new stake in Molson Coors Beverage (NYSE:TAP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,500 shares of the company’s stock, valued at approximately $2,337,000.

A number of other institutional investors have also recently bought and sold shares of TAP. Private Trust Co. NA grew its holdings in Molson Coors Beverage by 125.4% in the second quarter. Private Trust Co. NA now owns 444 shares of the company’s stock valued at $29,000 after purchasing an additional 247 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Molson Coors Beverage by 85.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Hanseatic Management Services Inc. purchased a new stake in Molson Coors Beverage during the second quarter worth approximately $39,000. Lazard Asset Management LLC grew its stake in Molson Coors Beverage by 96.4% during the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock worth $40,000 after buying an additional 373 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in Molson Coors Beverage during the second quarter worth approximately $44,000. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

TAP stock opened at $59.38 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 0.73. The stock has a market cap of $12.81 billion, a P/E ratio of 51.63, a P/E/G ratio of 1.09 and a beta of 0.92. The firm has a 50 day simple moving average of $60.40 and a 200 day simple moving average of $63.38. Molson Coors Beverage has a 52 week low of $48.49 and a 52 week high of $70.90.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 30th. Molson Coors Beverage’s dividend payout ratio is currently 142.61%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TAP. TheStreet downgraded shares of Molson Coors Beverage from a “b-” rating to a “c” rating in a research note on Monday, October 23rd. Barclays decreased their price objective on shares of Molson Coors Beverage from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, October 12th. Wedbush reissued a “neutral” rating and set a $70.00 target price on shares of Molson Coors Beverage in a research report on Monday, November 6th. Citigroup reduced their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. Finally, StockNews.com began coverage on shares of Molson Coors Beverage in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.50.

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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.