Coldstream Capital Management Inc. Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

Coldstream Capital Management Inc. boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 492.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,936 shares of the company's stock after buying an additional 29,035 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Molson Coors Beverage were worth $2,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TAP. Truvestments Capital LLC grew its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC increased its position in 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 in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after buying an additional 203 shares during the period. Private Trust Co. NA lifted its position in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after buying an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after acquiring an additional 489 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 2.6 %

Shares of NYSE TAP opened at $56.82 on Monday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The business's 50 day moving average is $59.96 and its two-hundred day moving average is $58.37. The stock has a market capitalization of $11.51 billion, a P/E ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.31%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

Analyst Ratings Changes

Several equities analysts have weighed in on TAP shares. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Monday, April 14th. Finally, UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and a consensus price target of $64.39.

About Molson Coors Beverage

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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