Molson Coors Beverage (NYSE:TAP) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,225 shares of the company’s stock after acquiring an additional 688 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $1,911,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Molson Coors Beverage during the second quarter valued at approximately $25,000. Salem Investment Counselors Inc. acquired a new position in Molson Coors Beverage in the third quarter worth approximately $32,000. Stone House Investment Management LLC acquired a new position in Molson Coors Beverage in the third quarter worth approximately $32,000. Steward Partners Investment Advisory LLC grew its position in Molson Coors Beverage by 85.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $33,000 after buying an additional 300 shares during the last quarter. Finally, Allworth Financial LP grew its position in Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $66.34 on Friday. The firm’s 50-day moving average is $64.64 and its 200-day moving average is $62.19. Molson Coors Beverage has a 52-week low of $54.17 and a 52-week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.37 and a beta of 0.84.

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

Molson Coors Beverage Increases Dividend

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

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.