Heron Bay Capital Management Has $2.56 Million Stake in Molson Coors Beverage (NYSE:TAP)

Heron Bay Capital Management decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,668 shares of the company's stock after selling 5,279 shares during the period. Heron Bay Capital Management's holdings in Molson Coors Beverage were worth $2,560,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TAP. Integrated Investment Consultants LLC lifted its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company's stock worth $239,000 after buying an additional 185 shares during the period. Pallas Capital Advisors LLC raised its stake in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings 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 acquiring an additional 202 shares during the period. Truvestments Capital LLC boosted its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of 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 during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TAP shares. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on 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. BNP Paribas started coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. Finally, UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $63.67.

Molson Coors Beverage Trading Down 1.0 %

TAP stock traded down $0.58 during midday trading on Tuesday, reaching $58.69. The company's stock had a trading volume of 1,291,959 shares, compared to its average volume of 2,261,164. The business's 50-day simple moving average is $57.67 and its 200-day simple moving average is $57.57. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market cap of $11.89 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.71 billion. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued 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 3.20%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

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.