Sanctuary Advisors LLC Purchases 4,486 Shares of Molson Coors Beverage (NYSE:TAP)

Sanctuary Advisors LLC grew its position in Molson Coors Beverage (NYSE:TAP) by 9.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 50,704 shares of the company’s stock after acquiring an additional 4,486 shares during the period. Sanctuary Advisors LLC’s holdings in Molson Coors Beverage were worth $3,061,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TAP. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Molson Coors Beverage by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,330 shares of the company’s stock valued at $881,000 after acquiring an additional 1,410 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at $790,000. Blue Trust Inc. lifted its stake in shares of Molson Coors Beverage by 80.7% in the 2nd quarter. Blue Trust Inc. now owns 1,807 shares of the company’s stock valued at $92,000 after acquiring an additional 807 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Molson Coors Beverage by 3.6% in the 2nd quarter. Raymond James & Associates now owns 641,015 shares of the company’s stock valued at $32,583,000 after acquiring an additional 22,369 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Molson Coors Beverage by 783.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,049 shares of the company’s stock worth $104,000 after purchasing an additional 1,817 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $59.25 on Wednesday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company’s 50 day moving average price is $58.62 and its two-hundred day moving average price is $55.06. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.21 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. On average, equities analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.97%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $62.00.

Molson Coors Beverage Company 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, spirits and energy, and ready to drink beverages.