International Assets Investment Management LLC Increases Stake in Molson Coors Beverage (NYSE:TAP)

International Assets Investment Management LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 6,418.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 151,416 shares of the company’s stock after acquiring an additional 149,093 shares during the period. International Assets Investment Management LLC owned approximately 0.07% of Molson Coors Beverage worth $9,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Belpointe Asset Management LLC lifted its stake in Molson Coors Beverage by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock valued at $79,000 after acquiring an additional 171 shares during the period. Quent Capital LLC lifted its stake in shares of Molson Coors Beverage by 13.4% in the 3rd quarter. Quent Capital LLC now owns 1,487 shares of the company’s stock worth $95,000 after purchasing an additional 176 shares during the period. IMPACTfolio LLC increased its holdings in Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after acquiring an additional 176 shares in the last quarter. Syntax Advisors LLC increased its holdings in Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after acquiring an additional 185 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Molson Coors Beverage by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after buying an additional 196 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Stock Down 2.2 %

NYSE:TAP opened at $66.34 on Friday. Molson Coors Beverage has a twelve month low of $54.17 and a twelve month high of $70.90. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.37 and a beta of 0.84. The stock has a fifty day simple moving average of $64.64 and a 200-day simple moving average of $62.19. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. Analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. Barclays raised their target price on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.20.

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.