Family Firm Inc. Takes Position in Molson Coors Beverage (NYSE:TAP)

Family Firm Inc. acquired a new stake in Molson Coors Beverage (NYSE:TAP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 509 shares of the company’s stock, valued at approximately $26,000.

Several other large investors have also bought and sold shares of the company. Montag A & Associates Inc. acquired a new stake in Molson Coors Beverage in the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. raised its holdings in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Molson Coors Beverage during the fourth quarter worth approximately $36,000. Finally, Crewe Advisors LLC acquired a new position in Molson Coors Beverage in the first quarter worth approximately $43,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.6 %

NYSE TAP opened at $53.83 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm’s fifty day simple moving average is $52.07 and its 200-day simple moving average is $57.90. The company has a market capitalization of $11.41 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted $1.78 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.27%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TAP shares. Piper Sandler raised their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America dropped their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $60.53.

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.