Proficio Capital Partners LLC acquired a new position in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,736 shares of the company's stock, valued at approximately $1,991,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of TAP. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after purchasing an additional 276 shares in the last quarter. True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 78.46% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Barclays upgraded shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a "neutral" rating and a $64.00 price objective for the company. Finally, StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $63.67.
View Our Latest Report on Molson Coors Beverage
Molson Coors Beverage Price Performance
NYSE TAP traded down $0.27 on Friday, hitting $58.72. The company had a trading volume of 8,355,748 shares, compared to its average volume of 1,955,870. The company has a market capitalization of $11.90 billion, a PE ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.81. The company's fifty day moving average price is $57.56 and its 200-day moving average price is $57.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. Molson Coors Beverage's dividend payout ratio is presently 35.14%.
About Molson Coors Beverage
(
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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