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AE Wealth Management LLC Sells 274 Shares of Molson Coors Beverage (NYSE:TAP)

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AE Wealth Management LLC lessened its holdings in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,391 shares of the company’s stock after selling 274 shares during the quarter. AE Wealth Management LLC’s holdings in Molson Coors Beverage were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TAP. LSV Asset Management raised its stake in Molson Coors Beverage by 9.4% during the 4th quarter. LSV Asset Management now owns 7,587,441 shares of the company’s stock valued at $351,678,000 after purchasing an additional 652,709 shares during the period. Renaissance Technologies LLC bought a new stake in Molson Coors Beverage during the 4th quarter valued at approximately $20,079,000. CHURCHILL MANAGEMENT Corp bought a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $17,215,000. Cooper Creek Partners Management LLC bought a new stake in Molson Coors Beverage during the 4th quarter valued at approximately $11,705,000. Finally, Baird Financial Group Inc. increased its stake in Molson Coors Beverage by 697.0% in the 4th quarter. Baird Financial Group Inc. now owns 284,528 shares of the company’s stock worth $13,188,000 after acquiring an additional 248,828 shares during the last quarter. 79.62% of the stock is currently owned by institutional investors.

Shares of Molson Coors Beverage stock opened at $57.40 on Wednesday. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.92 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81. The stock has a 50 day moving average price of $53.97 and a 200-day moving average price of $52.06. Molson Coors Beverage has a one year low of $42.46 and a one year high of $57.75.

Molson Coors Beverage (NYSE:TAPGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. Sell-side analysts predict that Molson Coors Beverage will post 4 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Friday, June 3rd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Thursday, June 2nd. Molson Coors Beverage’s payout ratio is currently 30.77%.

A number of analysts have issued reports on TAP shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $49.00 to $51.00 in a research note on Wednesday, April 27th. Citigroup lifted their price objective on Molson Coors Beverage from $58.00 to $61.00 in a research note on Friday, May 6th. The Goldman Sachs Group raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, June 28th. StockNews.com started coverage on Molson Coors Beverage in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Sanford C. Bernstein downgraded Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 price objective on the stock. in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.00.

Molson Coors Beverage Profile (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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