Paragon Private Wealth Management LLC Sells 529 Shares of Molson Coors Beverage (NYSE:TAP)

Paragon Private Wealth Management LLC decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,771 shares of the company’s stock after selling 529 shares during the period. Paragon Private Wealth Management LLC’s holdings in Molson Coors Beverage were worth $675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TAP. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP bought a new stake in Molson Coors Beverage in the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the period. SRS Capital Advisors Inc. raised its stake in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the period. Finally, Private Trust Co. NA raised its stake in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Barclays increased their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley increased their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Up 4.2 %

Shares of TAP stock opened at $61.91 on Monday. The stock’s fifty day moving average price is $56.83 and its two-hundred day moving average price is $57.17. The company has a market cap of $12.54 billion, a PE ratio of 11.57, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Molson Coors Beverage 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.