Baker Ellis Asset Management LLC Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Baker Ellis Asset Management LLC grew its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,822 shares of the company's stock after purchasing an additional 11,540 shares during the quarter. Molson Coors Beverage makes up approximately 1.2% of Baker Ellis Asset Management LLC's investment portfolio, making the stock its 25th largest holding. Baker Ellis Asset Management LLC owned approximately 0.07% of Molson Coors Beverage worth $8,301,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC acquired a new position in shares of Molson Coors Beverage in the third quarter valued at about $48,202,000. State Street Corp grew its stake in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after acquiring an additional 681,757 shares in the last quarter. Millennium Management LLC grew its stake in shares of Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company's stock valued at $38,893,000 after acquiring an additional 645,847 shares in the last quarter. Randolph Co Inc acquired a new position in shares of Molson Coors Beverage in the third quarter valued at about $21,754,000. Finally, Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock valued at $29,875,000 after acquiring an additional 294,596 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 1.5 %

NYSE TAP traded down $0.85 during trading hours on Thursday, reaching $54.03. The company's stock had a trading volume of 1,529,741 shares, compared to its average volume of 1,771,231. The firm has a fifty day simple moving average of $58.52 and a 200-day simple moving average of $56.01. The stock has a market cap of $11.13 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.07 and a beta of 0.86. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $1.92 EPS. The company's revenue was down 7.8% compared to the same quarter last year. Equities analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage's dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several research reports. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research note on Tuesday, October 8th. Needham & Company LLC started coverage on shares of Molson Coors Beverage in a research note on Friday, December 6th. They set a "buy" rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. UBS Group reduced their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and increased their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $61.79.

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.