U.S. Capital Wealth Advisors LLC Takes $1.16 Million Position in Molson Coors Beverage (NYSE:TAP)

U.S. Capital Wealth Advisors LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,947 shares of the company’s stock, valued at approximately $1,160,000.

Several other large investors also recently modified their holdings of the stock. Kestra Private Wealth Services LLC increased its position in Molson Coors Beverage by 19.5% during the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after acquiring an additional 1,859 shares during the period. International Assets Investment Management LLC increased its position in Molson Coors Beverage by 6,418.1% during the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after acquiring an additional 149,093 shares during the period. SkyView Investment Advisors LLC increased its position in Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after acquiring an additional 408 shares during the period. Metis Global Partners LLC increased its holdings in Molson Coors Beverage by 24.2% in the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after buying an additional 2,183 shares during the period. Finally, Beck Bode LLC bought a new position in Molson Coors Beverage in the 4th quarter valued at about $1,785,000. 78.46% of the stock is owned by institutional investors.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Evercore ISI decreased their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Citigroup decreased their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their target price on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, Barclays reduced their price target on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $57.85 on Monday. The company has a fifty day moving average of $64.77 and a 200-day moving average of $62.36. The firm has a market capitalization of $12.30 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.09 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.44 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s payout ratio is currently 35.20%.

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.