Integrated Investment Consultants LLC Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,154 shares of the company’s stock after purchasing an additional 185 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Molson Coors Beverage were worth $239,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Axxcess Wealth Management LLC grew its stake in Molson Coors Beverage by 10.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 8,880 shares of the company’s stock worth $597,000 after buying an additional 832 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Molson Coors Beverage by 28.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company’s stock valued at $20,895,000 after acquiring an additional 68,900 shares during the period. Lazard Asset Management LLC raised its position in Molson Coors Beverage by 6,659.2% in the 1st quarter. Lazard Asset Management LLC now owns 101,928 shares of the company’s stock valued at $6,854,000 after purchasing an additional 100,420 shares during the last quarter. BOKF NA acquired a new stake in Molson Coors Beverage during the 1st quarter worth $5,229,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Molson Coors Beverage by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock worth $20,673,000 after purchasing an additional 56,584 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.2 %

Shares of TAP opened at $60.36 on Friday. The firm’s 50-day moving average is $56.73 and its two-hundred day moving average is $54.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.43 billion, a P/E ratio of 13.59, a PEG ratio of 2.35 and a beta of 0.82.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TAP. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group lifted their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.31.

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.