Cetera Investment Advisers Has $2.62 Million Stock Holdings in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Cetera Investment Advisers increased its holdings in Molson Coors Beverage Company by 23.8%, acquiring an additional 8,276 shares to reach a total of 43,002 shares valued at $2,618,000.
• Institutional investors now own 78.46% of Molson Coors Beverage's stock, reflecting a strong interest from major investment firms.
• Molson Coors Beverage announced a quarterly dividend of $0.47, with a total annualized dividend of $1.88 which yields 3.7% for shareholders.

Cetera Investment Advisers increased its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,002 shares of the company's stock after acquiring an additional 8,276 shares during the period. Cetera Investment Advisers' holdings in Molson Coors Beverage were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at about $68,010,000. KBC Group NV boosted its position in Molson Coors Beverage by 269.1% during the first quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the period. Estuary Capital Management LP acquired a new position in Molson Coors Beverage during the fourth quarter valued at approximately $39,052,000. Bank of New York Mellon Corp raised its position in shares of Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $29,913,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TAP shares. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Wells Fargo & Company lowered their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Needham & Company LLC dropped their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday. Morgan Stanley decreased their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus target price of $58.05.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the sale, the director directly owned 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Price Performance

Shares of TAP stock traded down $0.83 during trading hours on Thursday, hitting $49.38. The company had a trading volume of 3,499,211 shares, compared to its average volume of 2,600,512. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.95. The firm's fifty day moving average is $49.97 and its 200 day moving average is $55.17. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.10 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The business's revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Molson Coors Beverage Company 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.