Caprock Group LLC Acquires 616 Shares of Molson Coors Beverage (NYSE:TAP)

Caprock Group LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,652 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Caprock Group LLC’s holdings in Molson Coors Beverage were worth $498,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TAP shares. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. TD Cowen reduced their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Barclays raised their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Trading Down 0.2 %

TAP opened at $60.36 on Friday. The company’s 50 day moving average is $56.73 and its 200-day moving average is $54.46. The company has a market cap of $12.43 billion, a P/E ratio of 13.59, a PEG ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.