Arete Wealth Advisors LLC Buys 912 Shares of Molson Coors Beverage (NYSE:TAP)

Arete Wealth Advisors LLC increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 8.4% in the third quarter, Holdings Channel.com reports. The fund owned 11,705 shares of the company’s stock after purchasing an additional 912 shares during the period. Arete Wealth Advisors LLC’s holdings in Molson Coors Beverage were worth $674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage in the second quarter worth about $26,000. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage in the third quarter worth $35,000. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth $42,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

Shares of NYSE:TAP opened at $60.94 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.37 and a beta of 0.85. The business has a 50-day moving average price of $58.43 and a 200-day moving average price of $54.93.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The company’s revenue was down 7.8% compared to the same quarter last year. Equities analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.89%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen reduced their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company. Finally, Barclays increased their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.00.

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.