J.W. Cole Advisors Inc. Makes New Investment in Molson Coors Beverage Company (NYSE:TAP)

J.W. Cole Advisors Inc. purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,883 shares of the company's stock, valued at approximately $1,941,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after purchasing an additional 54,867 shares during the period. Bank of New York Mellon Corp boosted its holdings in 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 in the last quarter. Invesco Ltd. lifted its holdings in shares of Molson Coors Beverage by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after purchasing an additional 152,622 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock valued at $215,146,000 after buying an additional 422,515 shares in the last quarter. Finally, Norges Bank purchased a new stake in Molson Coors Beverage during the 4th quarter worth about $142,407,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director directly owned 27,595 shares in the company, valued at $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.71% of the company's stock.

Molson Coors Beverage Trading Down 0.2%

Shares of TAP stock opened at $49.96 on Tuesday. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The company's fifty day simple moving average is $51.39 and its two-hundred day simple moving average is $55.65. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 2.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company earned $0.95 earnings per share. Molson Coors Beverage's quarterly revenue was down 11.3% on a year-over-year basis. As a group, analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.76%. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Analyst Upgrades and Downgrades

TAP has been the topic of several analyst reports. Citigroup dropped their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Piper Sandler dropped their target price on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, June 23rd. Morgan Stanley reduced their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Barclays reduced their target price on Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and an average price target of $59.26.

Molson Coors Beverage 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.

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