World Investment Advisors LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

World Investment Advisors LLC purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 54,813 shares of the company’s stock, valued at approximately $3,153,000.

Several other large investors also recently modified their holdings of TAP. Family Firm Inc. bought a new position in Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage during the second quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter worth about $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. Finally, Quarry LP acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Barclays lifted their price target 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. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $61.07 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company’s 50 day moving average price is $58.53 and its two-hundred day moving average price is $54.99. The stock has a market cap of $12.58 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.85. 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 (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.88%. Molson Coors Beverage’s payout ratio is currently 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.