Integrated Wealth Concepts LLC Cuts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Integrated Wealth Concepts LLC reduced its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 42.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,147 shares of the company's stock after selling 7,344 shares during the period. Integrated Wealth Concepts LLC's holdings in Molson Coors Beverage were worth $582,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after buying an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after purchasing an additional 563 shares in the last quarter. US Bancorp DE increased its position in shares of Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares during the last quarter. Unified Investment Management purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $871,000. Finally, Wilsey Asset Management Inc. lifted its position in Molson Coors Beverage by 1.6% during 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 last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.1 %

Shares of TAP traded up $0.08 on Wednesday, reaching $56.98. The stock had a trading volume of 1,534,211 shares, compared to its average volume of 2,054,317. The company has a 50-day simple moving average of $59.44 and a 200-day simple moving average of $58.44. 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 firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.63, 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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.30%. Molson Coors Beverage's payout ratio is presently 35.14%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Tuesday, April 29th. Berenberg Bank started 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. UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $64.14.

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.