Unified Investment Management Acquires New Position in Molson Coors Beverage (NYSE:TAP)

Unified Investment Management acquired a new position in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,201 shares of the company's stock, valued at approximately $871,000.

Several other large investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the third quarter worth $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage during the third quarter worth about $42,000. Catalyst Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Molson Coors Beverage by 38.6% during the fourth 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. Finally, Private Trust Co. NA lifted its stake in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $61.25 on Monday. The business's 50-day moving average price is $56.64 and its 200 day moving average price is $56.94. The firm has a market cap of $12.45 billion, a P/E ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 35.14%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TAP shares. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a "neutral" rating and a $64.00 price objective for the company. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $63.27.

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.

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