Fluent Financial LLC Purchases 19,669 Shares of Molson Coors Beverage (NYSE:TAP)

Fluent Financial LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 28.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 89,528 shares of the company’s stock after buying an additional 19,669 shares during the period. Molson Coors Beverage accounts for approximately 2.3% of Fluent Financial LLC’s holdings, making the stock its 12th biggest position. Fluent Financial LLC’s holdings in Molson Coors Beverage were worth $4,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI grew its position in shares of Molson Coors Beverage by 3.2% during the second quarter. National Bank of Canada FI now owns 243,402 shares of the company’s stock worth $12,315,000 after purchasing an additional 7,580 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Molson Coors Beverage during the 2nd quarter valued at approximately $364,000. TD Asset Management Inc raised its position in shares of Molson Coors Beverage by 8.0% during the second quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock valued at $2,712,000 after buying an additional 3,936 shares during the last quarter. Versor Investments LP bought a new stake in shares of Molson Coors Beverage during the second quarter valued at approximately $1,383,000. Finally, AM Squared Ltd purchased a new position in shares of Molson Coors Beverage in the second quarter worth $834,000. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their target price for the company from $68.00 to $58.00 in a research note on Wednesday, August 7th. Jefferies Financial Group cut their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Bank of America decreased their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Citigroup cut their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Trading Up 0.3 %

TAP stock traded up $0.18 during mid-day trading on Friday, reaching $55.99. 154,950 shares of the stock traded hands, compared to its average volume of 1,949,618. The business has a 50-day moving average price of $52.77 and a two-hundred day moving average price of $57.51. The stock has a market capitalization of $11.86 billion, a PE ratio of 11.16, a PEG ratio of 2.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. Equities research analysts expect that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

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.