Central Pacific Bank Trust Division Invests $498,000 in Molson Coors Beverage (NYSE:TAP)

Central Pacific Bank Trust Division purchased a new position in Molson Coors Beverage (NYSE:TAPFree Report) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 7,400 shares of the company’s stock, valued at approximately $498,000.

Several other large investors have also recently made changes to their positions in TAP. Czech National Bank grew its stake in Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after purchasing an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares during the last quarter. IMPACTfolio LLC boosted its stake in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 46.6% in the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded up $0.03 during mid-day trading on Wednesday, reaching $49.97. 158,674 shares of the stock traded hands, compared to its average volume of 1,937,547. The business has a 50-day moving average of $53.37 and a 200 day moving average of $60.06. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $70.90. The stock has a market capitalization of $10.59 billion, a PE ratio of 9.99, a PEG ratio of 1.81 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.44 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.52%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Bank of America lowered their target price on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. UBS Group lowered their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $65.07.

Check Out Our Latest Stock Analysis on TAP

Molson Coors Beverage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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