Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,572 shares of the company’s stock after buying an additional 563 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Molson Coors Beverage were worth $2,046,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Clark Estates Inc. NY lifted its holdings in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after acquiring an additional 9,200 shares during the last quarter. Qsemble Capital Management LP raised its position in Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the period. Principal Financial Group Inc. raised its position in Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after purchasing an additional 9,510 shares during the period. 1832 Asset Management L.P. acquired a new position in Molson Coors Beverage during the second quarter worth $1,237,000. Finally, FMR LLC boosted its position in shares of Molson Coors Beverage by 23.2% during the third quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after buying an additional 134,689 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $54.26 on Wednesday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $11.18 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The business’s fifty day moving average price is $59.29 and its 200 day moving average price is $55.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued 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 3.24%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Analyst Ratings Changes

Several research firms recently issued reports on TAP. TD Cowen decreased their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $62.00.

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.