Sound Income Strategies LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Sound Income Strategies LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 95,292 shares of the company's stock after purchasing an additional 12,000 shares during the period. Sound Income Strategies LLC's holdings in Molson Coors Beverage were worth $5,462,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock valued at $99,000 after acquiring an additional 182 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company's stock worth $239,000 after purchasing an additional 185 shares during the last quarter. Perpetual Ltd raised its stake in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company's stock valued at $1,182,000 after buying an additional 197 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after buying an additional 199 shares during the period. Finally, Red Spruce Capital LLC grew its holdings in shares of Molson Coors Beverage by 1.0% in the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company's stock worth $1,548,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. TD Cowen cut their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a research report on Tuesday, October 8th. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 target price on the stock. UBS Group lowered their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and an average price target of $61.79.

Molson Coors Beverage Trading Up 2.2 %

Shares of NYSE:TAP traded up $1.19 during trading on Friday, reaching $55.23. The company's stock had a trading volume of 1,706,643 shares, compared to its average volume of 1,714,618. The firm's 50 day simple moving average is $58.52 and its two-hundred day simple moving average is $56.01. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market capitalization of $11.38 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86.

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

Molson Coors Beverage Dividend Announcement

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

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.