Mission Wealth Management LP Has $700,000 Stake in Molson Coors Beverage (NYSE:TAP)

Mission Wealth Management LP reduced its position in shares of Molson Coors Beverage (NYSE:TAP) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,211 shares of the company’s stock after selling 4,197 shares during the period. Mission Wealth Management LP’s holdings in Molson Coors Beverage were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Molson Coors Beverage by 73.7% during the fourth quarter. Jones Financial Companies Lllp now owns 81,691 shares of the company’s stock worth $4,683,000 after purchasing an additional 34,666 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Molson Coors Beverage by 38.6% during the fourth 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. MMA Asset Management LLC grew its holdings in shares of Molson Coors Beverage by 38.2% during the fourth quarter. MMA Asset Management LLC now owns 8,333 shares of the company’s stock worth $478,000 after purchasing an additional 2,304 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Molson Coors Beverage by 463.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,593 shares of the company’s stock worth $147,000 after purchasing an additional 2,133 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP opened at $59.56 on Wednesday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The business’s 50 day moving average price is $56.69 and its two-hundred day moving average price is $56.99. The firm has a market cap of $12.07 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.

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

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several research reports. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays upped their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.27.

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.