New Age Alpha Advisors LLC Purchases Shares of 53,832 Molson Coors Beverage (NYSE:TAP)

New Age Alpha Advisors LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 53,832 shares of the company's stock, valued at approximately $3,086,000.

Several other institutional investors have also modified their holdings of TAP. Norges Bank acquired a new position in Molson Coors Beverage during the 4th quarter worth $142,407,000. Caisse Des Depots ET Consignations acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $980,000. NEOS Investment Management LLC increased its holdings in Molson Coors Beverage by 25.6% in the fourth quarter. NEOS Investment Management LLC now owns 6,075 shares of the company's stock valued at $348,000 after buying an additional 1,238 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Molson Coors Beverage by 1.7% during the 4th quarter. UniSuper Management Pty Ltd now owns 31,202 shares of the company's stock worth $1,788,000 after acquiring an additional 526 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Molson Coors Beverage by 28.1% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 21,027 shares of the company's stock worth $1,205,000 after purchasing an additional 4,612 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock traded up $0.69 during trading hours on Thursday, hitting $62.64. The stock had a trading volume of 1,337,768 shares, compared to its average volume of 2,027,617. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock's fifty day moving average is $58.47 and its two-hundred day moving average is $57.84.

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Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced 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. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is 35.14%.

Analysts Set New Price Targets

TAP has been the subject of several research analyst reports. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday. They issued a "buy" rating and a $86.90 price objective for the company. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. UBS Group boosted their price target 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, Needham & Company LLC restated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and an average target price of $65.06.

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.