8,163 Shares in Molson Coors Beverage (NYSE:TAP) Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,163 shares of the company's stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter valued at about $48,202,000. State Street Corp lifted its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares during the last quarter. Millennium Management LLC lifted its position in shares of Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company's stock valued at $38,893,000 after buying an additional 645,847 shares during the last quarter. Randolph Co Inc purchased a new stake in shares of Molson Coors Beverage during the third quarter valued at about $21,754,000. Finally, Invenomic Capital Management LP lifted its position in shares of Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock valued at $29,875,000 after buying an additional 294,596 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TAP has been the subject of several analyst reports. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a "buy" rating and a $72.00 price target for the company. UBS Group decreased their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. TD Cowen decreased their price objective 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. Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and increased their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.79.

Molson Coors Beverage Trading Up 2.2 %

Shares of NYSE TAP traded up $1.19 during trading on Friday, hitting $55.23. 1,707,090 shares of the company were exchanged, compared to its average volume of 1,767,083. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. 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 company has a fifty day moving average price of $58.52 and a 200-day moving average price of $56.01. The firm has a market capitalization of $11.38 billion, a PE ratio of 12.44, a P/E/G ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. As a group, equities research analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, December 6th. 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.