Alps Advisors Inc. Has $5.48 Million Stock Holdings in Molson Coors Beverage Company $TAP

Alps Advisors Inc. grew its holdings in Molson Coors Beverage Company (NYSE:TAP) by 1,879.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,204 shares of the company’s stock after buying an additional 115,080 shares during the period. Alps Advisors Inc.’s holdings in Molson Coors Beverage were worth $5,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TAP. Caxton Associates LLP bought a new stake in shares of Molson Coors Beverage during the 1st quarter worth about $202,000. United Services Automobile Association bought a new position in Molson Coors Beverage during the 1st quarter worth $215,000. Woodline Partners LP boosted its position in shares of Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after acquiring an additional 4,056 shares during the period. Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the period. Finally, Callan Family Office LLC increased its holdings in shares of Molson Coors Beverage by 189.0% during the second quarter. Callan Family Office LLC now owns 12,790 shares of the company’s stock worth $615,000 after purchasing an additional 8,364 shares during the period. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TAP has been the topic of a number of recent research reports. BNP Paribas Exane lowered Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price objective on the stock. in a research note on Friday, January 16th. JPMorgan Chase & Co. started coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price target for the company. Sanford C. Bernstein reduced their price objective on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Finally, UBS Group boosted their price objective on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $53.18.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $50.86 on Tuesday. The business has a 50 day moving average of $47.91 and a 200-day moving average of $47.71. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.45. The company has a market capitalization of $10.05 billion, a P/E ratio of -4.76 and a beta of 0.48.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.88 annualized dividend and a dividend yield of 3.7%. Molson Coors Beverage’s payout ratio is currently -17.60%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.