Kestra Private Wealth Services LLC Acquires 1,867 Shares of Molson Coors Beverage (NYSE:TAP)

Kestra Private Wealth Services LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,293 shares of the company’s stock after buying an additional 1,867 shares during the period. Kestra Private Wealth Services LLC’s holdings in Molson Coors Beverage were worth $1,966,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TAP. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth approximately $48,202,000. State Street Corp grew its holdings in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Randolph Co Inc acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $21,754,000. Invenomic Capital Management LP grew its holdings in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after purchasing an additional 294,596 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Molson Coors Beverage by 149.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock worth $21,652,000 after purchasing an additional 225,296 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $54.00 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $11.12 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.07 and a beta of 0.85. The business’s fifty day moving average is $56.74 and its two-hundred day moving average is $56.27. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage Announces Dividend

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

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Needham & Company LLC initiated coverage on Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.36.

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.