4 days Ago By Defense World Staff
Envestnet Asset Management Inc. decreased its stake in shares of Molson Coors Beverage ( NYSE:TAP – Free Report ) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
The fund owned 315,059 shares of the company’s stock after selling 262,444 shares during the quarter. Envestnet Asset Management Inc. owned about 0.
15% of Molson Coors Beverage worth $18,059,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds also recently made changes to their positions in TAP. HighTower Advisors LLC increased its holdings in Molson Coors Beverage by 123.
3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock worth $1,047,000 after buying an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Molson Coors Beverage by 1.
6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after buying an additional 563 shares during the last quarter. US Bancorp DE lifted its stake in Molson Coors Beverage by 103.
9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after purchasing an additional 9,825 shares during the last quarter. Unified Investment Management acquired a new stake in shares of Molson Coors Beverage during the fourth quarter valued at about $871,000.
Finally, Wilsey Asset Management Inc. increased its holdings in Molson Coors Beverage by 1.6% in the fourth quarter.
Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares during the period. Institutional investors own 78.
46% of the company’s stock. Wall Street Analysts Forecast Growth TAP has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Molson Coors Beverage from $60.
00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co.
reduced their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th.
StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. UBS Group increased their target price on Molson Coors Beverage from $58.
00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Barclays decreased their target price on shares of Molson Coors Beverage from $62.
00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock.
According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $64.39.
Molson Coors Beverage Trading Down 1.9 % Shares of TAP stock opened at $59.49 on Wednesday.
The stock has a market capitalization of $12.05 billion, a PE ratio of 11.12, a P/E/G ratio of 1.
52 and a beta of 0.69. The business has a 50-day moving average of $59.
72 and a 200 day moving average of $58.19. The company has a debt-to-equity ratio of 0.
46, a current ratio of 0.94 and a quick ratio of 0.70.
Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $65.24.
Molson Coors Beverage ( NYSE:TAP – Get Free Report ) last posted its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.
17 by $0.13. Molson Coors Beverage had a net margin of 8.
17% and a return on equity of 9.34%. The firm had revenue of $2.
74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.
35 earnings per share for the current year. Molson Coors Beverage Increases Dividend The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.
47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.
16%. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.
44. Molson Coors Beverage’s payout ratio is currently 35.14%.
Molson Coors Beverage Profile ( Free Report ) 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. Further Reading Five stocks we like better than Molson Coors Beverage Investing In Automotive Stocks Beware of BigBear.
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