Molson Coors Beverage (NYSE:TAP) Shares Sold by Powell Investment Advisors LLC

Powell Investment Advisors LLC decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,653 shares of the company’s stock after selling 918 shares during the period. Powell Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $42,000. True Wealth Design LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $59,000. Allworth Financial LP lifted its holdings in shares of Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $54.23 on Monday. 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 fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a 50-day simple moving average of $57.05 and a 200 day simple moving average of $56.27. The company has a market cap of $11.17 billion, a PE ratio of 12.21, a P/E/G ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TAP. Citigroup upgraded shares of 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 report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. UBS Group dropped their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays dropped their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.36.

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.