HighTower Advisors LLC Buys 10,080 Shares of Molson Coors Beverage (NYSE:TAP)

HighTower Advisors LLC raised its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 123.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,258 shares of the company's stock after acquiring an additional 10,080 shares during the quarter. HighTower Advisors LLC's holdings in Molson Coors Beverage were worth $1,047,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after acquiring an additional 428 shares during the period. SRS Capital Advisors Inc. raised its stake in 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 in the last quarter. Private Trust Co. NA boosted its holdings in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the period. True Wealth Design LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Molson Coors Beverage by 21.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after purchasing an additional 218 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TAP. JPMorgan Chase & Co. reduced 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. Barclays reduced their target price on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday. Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. UBS Group increased their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus price target of $63.60.

Molson Coors Beverage Trading Down 0.7 %

Shares of TAP stock traded down $0.44 during mid-day trading on Friday, hitting $60.52. The company's stock had a trading volume of 1,594,320 shares, compared to its average volume of 2,028,798. The company has a market cap of $12.26 billion, a PE ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company's fifty day simple moving average is $58.11 and its 200-day simple moving average is $57.72. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.71 billion. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. Molson Coors Beverage's 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.