Cerity Partners LLC Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Cerity Partners LLC lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,665 shares of the company’s stock after purchasing an additional 12,989 shares during the quarter. Cerity Partners LLC’s holdings in Molson Coors Beverage were worth $3,101,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Quarry LP bought a new position in Molson Coors Beverage during the second quarter valued at $25,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $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 acquiring an additional 300 shares in the last quarter. Allworth Financial LP increased its stake in Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after acquiring an additional 400 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Molson Coors Beverage by 96.4% during the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after purchasing an additional 373 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.4 %

NYSE TAP opened at $63.54 on Thursday. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a 50 day moving average price of $64.82 and a 200 day moving average price of $62.21. 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 firm has a market cap of $13.71 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the 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 transaction, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report 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, April 12th. Citigroup increased their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays lifted 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 research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.73.

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.