Impact Partnership Wealth LLC Invests $468,000 in Molson Coors Beverage (NYSE:TAP)

Impact Partnership Wealth LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,163 shares of the company’s stock, valued at approximately $468,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clark Estates Inc. NY increased its stake in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after acquiring an additional 563 shares during the last quarter. Qsemble Capital Management LP boosted its stake in shares of Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $1,237,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of analyst reports. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. TD Cowen reduced their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Needham & Company LLC started coverage on shares of Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.79.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $54.03 on Friday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $58.52 and its 200 day simple moving average is $56.01. The stock has a market cap of $11.13 billion, a P/E ratio of 12.17, a PEG ratio of 2.04 and a beta of 0.86.

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

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.26%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

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.