Wealth Enhancement Advisory Services LLC Raises Stake in Molson Coors Beverage (NYSE:TAP)

Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 75.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,327 shares of the company's stock after acquiring an additional 26,318 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Molson Coors Beverage were worth $3,515,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC lifted its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares during the period. Quarry LP lifted its position in Molson Coors Beverage by 55.1% in the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after buying an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after buying an additional 428 shares during the period. Finally, SRS Capital Advisors Inc. lifted its stake in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded down $0.94 during midday trading on Thursday, hitting $51.84. 2,937,405 shares of the company's stock were exchanged, compared to its average volume of 2,140,402. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The firm's 50 day simple moving average is $57.25 and its 200 day simple moving average is $58.01.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm's revenue was down 11.3% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.63%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on TAP. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $63.26.

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.