Sequoia Financial Advisors LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Sequoia Financial Advisors LLC purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,529 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. Wakefield Asset Management LLLP grew its position in shares of Molson Coors Beverage by 342.1% during the 4th quarter. Wakefield Asset Management LLLP now owns 25,488 shares of the company’s stock valued at $1,560,000 after acquiring an additional 19,723 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Molson Coors Beverage by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 31,225 shares of the company’s stock valued at $1,911,000 after acquiring an additional 688 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Molson Coors Beverage by 113.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,298 shares of the company’s stock valued at $3,997,000 after acquiring an additional 34,637 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Molson Coors Beverage by 29.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 102,037 shares of the company’s stock valued at $6,201,000 after acquiring an additional 22,963 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Up 0.5 %

TAP stock opened at $63.88 on Friday. The firm has a market cap of $13.78 billion, a PE ratio of 14.65, a PEG ratio of 2.21 and a beta of 0.84. 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 firm’s 50 day moving average price is $64.90 and its 200-day moving average price is $62.22. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90.

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 the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is presently 40.37%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. 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 target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.73.

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.