Molson Coors Beverage (NYSE:TAP) Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,316 shares of the company's stock after purchasing an additional 7,036 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Molson Coors Beverage were worth $2,769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Nomura Asset Management Co. Ltd. boosted its stake in Molson Coors Beverage by 12.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 58,767 shares of the company's stock worth $3,380,000 after buying an additional 6,418 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Molson Coors Beverage by 26.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,901 shares of the company's stock valued at $343,000 after purchasing an additional 1,246 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Molson Coors Beverage by 38.4% during the 3rd quarter. Toronto Dominion Bank now owns 94,500 shares of the company's stock worth $5,436,000 after buying an additional 26,198 shares during the last quarter. Virtu Financial LLC raised its position in shares of Molson Coors Beverage by 148.2% during the 3rd quarter. Virtu Financial LLC now owns 11,801 shares of the company's stock valued at $679,000 after buying an additional 7,046 shares during the period. Finally, SkyView Investment Advisors LLC lifted its holdings in Molson Coors Beverage by 4.0% in the third quarter. SkyView Investment Advisors LLC now owns 15,700 shares of the company's stock valued at $903,000 after acquiring an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 0.0 %

TAP traded up $0.01 during midday trading on Friday, hitting $58.72. The company's stock had a trading volume of 1,549,253 shares, compared to its average volume of 2,083,305. The firm has a market cap of $11.90 billion, a P/E ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.69. The firm has a 50-day moving average price of $60.01 and a two-hundred day moving average price of $58.22. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week 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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This is a boost 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 dividend payout ratio is presently 35.14%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Barclays dropped their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Monday, April 14th. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.39.

Molson Coors Beverage 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.