Proficio Capital Partners LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,736 shares of the company's stock, valued at approximately $1,991,000.
Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage during the third quarter valued at $42,000. Catalyst Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after buying an additional 428 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter worth about $59,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Molson Coors Beverage in the third quarter worth about $77,000. Institutional investors and hedge funds own 78.46% of the company's stock.
Wall Street Analysts Forecast Growth
TAP has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. One research 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.27.
View Our Latest Analysis on TAP
Molson Coors Beverage Price Performance
Shares of TAP stock traded up $2.51 during trading hours on Friday, hitting $61.91. The company had a trading volume of 3,101,163 shares, compared to its average volume of 1,918,382. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The firm's fifty day moving average is $56.83 and its 200 day moving average is $57.15. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.
Molson Coors Beverage Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is currently 35.14%.
Molson Coors Beverage Profile
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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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