Commonwealth Equity Services LLC Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

Commonwealth Equity Services LLC lifted its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,564 shares of the company's stock after buying an additional 8,339 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Molson Coors Beverage worth $7,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Integrated Investment Consultants LLC raised its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company's stock valued at $239,000 after buying an additional 185 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after acquiring an additional 199 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after purchasing an additional 202 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position 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 in the last quarter. Institutional investors own 78.46% of the company's stock.

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Analysts Set New Price Targets

Several research firms have weighed in on TAP. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $63.67.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $0.47 during midday trading on Monday, hitting $59.36. The company's stock had a trading volume of 1,929,724 shares, compared to its average volume of 1,955,766. The company has a market cap of $12.03 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The business's 50 day simple moving average is $57.56 and its 200 day simple moving average is $57.55. 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 earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is 35.14%.

Molson Coors Beverage Company 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.