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

Impact Partnership Wealth LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,163 shares of the company’s stock, valued at approximately $468,000.

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

Molson Coors Beverage Stock Down 1.5 %

Shares of TAP opened at $54.03 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.04 and a beta of 0.86. The stock has a fifty day moving average of $58.52 and a 200-day moving average of $56.01.

Molson Coors Beverage (NYSE:TAP) last posted 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 company 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%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analysts Set New Price Targets

A number of research firms have weighed in on TAP. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.79.

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.