Patriot Investment Management Group Inc. Has $285,000 Stake in Molson Coors Beverage (NYSE:TAP)

Patriot Investment Management Group Inc. reduced its holdings in Molson Coors Beverage (NYSE:TAP) by 10.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,980 shares of the company’s stock after selling 584 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Molson Coors Beverage were worth $285,000 as of its most recent SEC filing.

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

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $54.03 on Friday. The firm’s 50 day moving average is $58.52 and its 200 day moving average is $56.01. The stock has a market capitalization 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 has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. Molson Coors Beverage’s revenue was down 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen reduced their target price 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. UBS Group decreased their target price on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays lowered their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC began coverage on Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 target price on the stock. Finally, BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.79.

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.