Arkadios Wealth Advisors Has $667,000 Stake in Molson Coors Beverage (NYSE:TAP)

Arkadios Wealth Advisors grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,632 shares of the company’s stock after purchasing an additional 2,537 shares during the period. Arkadios Wealth Advisors’ holdings in Molson Coors Beverage were worth $667,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares during the period. Perpetual Ltd grew its holdings in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the period. Finally, SkyView Investment Advisors LLC raised its stake in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after purchasing an additional 274 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $55.33 on Tuesday. The firm has a market cap of $11.40 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm’s fifty day moving average is $58.99 and its 200-day moving average is $56.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates 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 was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. Sell-side analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared 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 of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.18%. Molson Coors Beverage’s payout ratio is 39.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of 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. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Barclays decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.79.

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.