Optimize Financial Inc Takes Position in Molson Coors Beverage (NYSE:TAP)

Optimize Financial Inc purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,486 shares of the company's stock, valued at approximately $486,000.

Several other institutional investors have also recently made changes to their positions in TAP. Pallas Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after purchasing an additional 199 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after buying an additional 202 shares in the last quarter. Truvestments Capital LLC grew its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Finally, Lindbrook Capital LLC raised its stake in 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 acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TAP. Barclays decreased their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Monday. Finally, Morgan Stanley upped their target price 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. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Trading Up 0.0 %

NYSE:TAP traded up $0.01 on Thursday, reaching $58.72. 1,549,253 shares of the stock traded hands, compared to its average volume of 2,079,962. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $65.24. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $59.82 and its 200-day moving average is $58.20.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS 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. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's payout ratio is presently 35.14%.

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.