Molson Coors Beverage (NYSE:TAP) Position Boosted by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 179.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 623 shares of the company’s stock after purchasing an additional 400 shares during the period. Allworth Financial LP’s holdings in Molson Coors Beverage were worth $38,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Belpointe Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 12.7% in the first quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock worth $79,000 after buying an additional 171 shares during the period. Quent Capital LLC boosted its holdings in shares of Molson Coors Beverage by 13.4% in the third quarter. Quent Capital LLC now owns 1,487 shares of the company’s stock worth $95,000 after buying an additional 176 shares during the period. IMPACTfolio LLC boosted its holdings in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the period. Syntax Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after buying an additional 185 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Molson Coors Beverage by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after buying an additional 196 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Trading Down 2.2 %

NYSE:TAP opened at $66.34 on Monday. Molson Coors Beverage has a 12 month low of $54.17 and a 12 month high of $70.90. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.31 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $64.64 and its 200-day moving average is $62.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Molson Coors Beverage will post 5.66 EPS 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 paid a $0.44 dividend. 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 dividend payout ratio (DPR) is presently 40.37%.

Analysts Set New Price Targets

TAP has been the subject of several research reports. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays raised their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Piper Sandler assumed coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target for the company. One equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.20.

About Molson Coors Beverage

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.