Kingsview Wealth Management LLC Raises Holdings in Molson Coors Beverage (NYSE:TAP)

Kingsview Wealth Management LLC lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,607 shares of the company’s stock after buying an additional 17,242 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Molson Coors Beverage were worth $9,665,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the third quarter worth $42,000. True Wealth Design LLC purchased a new position in Molson Coors Beverage in the third quarter valued at $59,000. Allworth Financial LP raised its stake in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Molson Coors Beverage during the 3rd quarter worth about $77,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on TAP shares. Needham & Company LLC assumed coverage on Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the company from $47.00 to $57.00 in a research note on Wednesday. Barclays lowered their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $62.36.

Molson Coors Beverage Stock Down 0.2 %

Molson Coors Beverage stock opened at $54.23 on Friday. The stock’s 50 day moving average price is $57.21 and its 200 day moving average price is $56.22. The company has a market cap of $11.17 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.25%. Molson Coors Beverage’s payout ratio is 39.64%.

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.