Paragon Private Wealth Management LLC Has $675,000 Stake in Molson Coors Beverage (NYSE:TAP)

Paragon Private Wealth Management LLC decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,771 shares of the company’s stock after selling 529 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Molson Coors Beverage were worth $675,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TAP. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the 3rd quarter worth $42,000. Catalyst Capital Advisors LLC raised its position in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays raised their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $61.91 on Monday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The business has a 50-day simple moving average of $56.83 and a 200 day simple moving average of $57.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.04%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 35.14%.

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, spirits and energy, and ready to drink beverages.