Impact Partnership Wealth LLC Makes New $364,000 Investment in Molson Coors Beverage (NYSE:TAP)

Impact Partnership Wealth LLC purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,169 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds also recently bought and sold shares of the business. TD Asset Management Inc boosted its position in Molson Coors Beverage by 8.0% during the second quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock worth $2,712,000 after purchasing an additional 3,936 shares in the last quarter. Versor Investments LP purchased a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $1,383,000. AM Squared Ltd purchased a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $834,000. Commonwealth Equity Services LLC lifted its position in shares of Molson Coors Beverage by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 120,424 shares of the company’s stock valued at $6,121,000 after acquiring an additional 5,579 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Molson Coors Beverage by 66.9% in the second quarter. Concurrent Investment Advisors LLC now owns 5,542 shares of the company’s stock valued at $282,000 after acquiring an additional 2,221 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $55.81 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $11.82 billion, a P/E ratio of 11.16, a P/E/G ratio of 2.34 and a beta of 0.81. The stock’s fifty day moving average is $52.77 and its two-hundred day moving average is $57.51.

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

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.15%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group decreased their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Piper Sandler raised their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays lifted their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.53.

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.