Howard Capital Management Inc. Invests $297,000 in Molson Coors Beverage (NYSE:TAP)

Howard Capital Management Inc. bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,180 shares of the company's stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clark Estates Inc. NY increased its holdings in Molson Coors Beverage by 18.1% during the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock worth $3,451,000 after purchasing an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after purchasing an additional 563 shares in the last quarter. Wilsey Asset Management Inc. increased its holdings in Molson Coors Beverage by 1.6% during the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after purchasing an additional 8,679 shares in the last quarter. Qsemble Capital Management LP increased its holdings in Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock worth $2,788,000 after purchasing an additional 9,234 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock worth $12,183,000 after purchasing an additional 9,510 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded down $0.29 during trading on Friday, hitting $61.25. The stock had a trading volume of 3,533,516 shares, compared to its average volume of 2,114,811. The stock's 50 day moving average is $56.60 and its two-hundred day moving average is $56.82. 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 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.71 billion. As a group, analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. Molson Coors Beverage's payout ratio is presently 35.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TAP. UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a "neutral" rating and a $64.00 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $63.27.

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.