Molson Coors Beverage (NYSE:TAP) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 49,000 shares of the company’s stock after acquiring an additional 206 shares during the period. ProShare Advisors LLC’s holdings in Molson Coors Beverage were worth $2,809,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. CoreCap Advisors LLC boosted its stake in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after purchasing an additional 643 shares during the period. Quarry LP boosted its stake in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.6%

NYSE:TAP opened at $56.95 on Wednesday. The stock’s 50 day moving average price is $58.52 and its 200 day moving average price is $58.45. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $64.66. The company has a market capitalization of $11.54 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was down 11.3% on a year-over-year basis. On average, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.30%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays cut their price target on shares of Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.71.

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.