Ieq Capital LLC Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Ieq Capital LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 236.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,451 shares of the company's stock after purchasing an additional 47,425 shares during the quarter. Ieq Capital LLC's holdings in Molson Coors Beverage were worth $3,866,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TAP. Creative Planning raised its holdings in shares of Molson Coors Beverage by 14.7% in the 3rd quarter. Creative Planning now owns 18,890 shares of the company's stock worth $1,087,000 after acquiring an additional 2,418 shares during the last quarter. Blue Trust Inc. increased its holdings in Molson Coors Beverage by 63.3% during the 3rd quarter. Blue Trust Inc. now owns 2,951 shares of the company's stock worth $170,000 after purchasing an additional 1,144 shares in the last quarter. Private Advisor Group LLC increased its holdings in Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company's stock worth $1,845,000 after purchasing an additional 277 shares in the last quarter. Greenleaf Trust raised its stake in shares of Molson Coors Beverage by 22.6% in the third quarter. Greenleaf Trust now owns 8,825 shares of the company's stock worth $508,000 after purchasing an additional 1,625 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Molson Coors Beverage by 1,711.8% in the 3rd quarter. International Assets Investment Management LLC now owns 54,880 shares of the company's stock valued at $3,157,000 after buying an additional 51,851 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TAP. Barclays lifted their price objective on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $63.27.

Molson Coors Beverage Price Performance

NYSE TAP traded down $0.27 during trading hours on Tuesday, hitting $60.93. The company had a trading volume of 879,215 shares, compared to its average volume of 1,990,445. The firm has a 50 day simple moving average of $56.44 and a 200 day simple moving average of $56.69. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.52 and a beta of 0.85. 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 quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during 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%. Equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is presently 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.