Merit Financial Group LLC Purchases New Shares in Molson Coors Beverage (NYSE:TAP)

Merit Financial Group LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,988 shares of the company's stock, valued at approximately $401,000.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at about $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at about $42,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at about $59,000. Quarry LP acquired a new stake in shares of Molson Coors Beverage during the second quarter valued at about $54,000. Finally, Allworth Financial LP increased its position in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company's stock valued at $68,000 after acquiring an additional 297 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TAP. BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a "buy" rating and a $72.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, October 18th. StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barclays dropped their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating for the company in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $61.79.

Molson Coors Beverage Stock Up 2.2 %

Molson Coors Beverage stock traded up $1.19 during trading on Friday, reaching $55.23. The stock had a trading volume of 1,707,090 shares, compared to its average volume of 1,382,853. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The business has a 50 day moving average price of $58.37 and a 200 day moving average price of $56.09. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.38 billion, a PE ratio of 12.44, a P/E/G ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. On average, analysts predict that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.19%. Molson Coors Beverage's dividend payout ratio is presently 39.64%.

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.