Sanctuary Advisors LLC Acquires 4,486 Shares of Molson Coors Beverage (NYSE:TAP)

Sanctuary Advisors LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 9.7% during the third quarter, HoldingsChannel reports. The fund owned 50,704 shares of the company’s stock after purchasing an additional 4,486 shares during the quarter. Sanctuary Advisors LLC’s holdings in Molson Coors Beverage were worth $3,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. bought a new stake in Molson Coors Beverage during the 2nd quarter valued at $26,000. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage in the second quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage in the third quarter worth $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the third quarter worth $42,000. Finally, Quarry LP purchased a new stake in Molson Coors Beverage during the second quarter valued at about $54,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.6 %

NYSE:TAP opened at $59.25 on Wednesday. The company’s 50 day moving average price is $58.62 and its 200-day moving average price is $55.06. 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 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TAP. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays upped their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, BNP Paribas started 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.