Tennessee Valley Asset Management Partners Acquires Shares of 472 Molson Coors Beverage (NYSE:TAP)

Tennessee Valley Asset Management Partners acquired a new stake in Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 472 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds also recently bought and sold shares of the business. Cerity Partners LLC grew its position in shares of Molson Coors Beverage by 34.5% during the 4th quarter. Cerity Partners LLC now owns 50,665 shares of the company’s stock worth $3,101,000 after buying an additional 12,989 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Molson Coors Beverage during the 4th quarter worth $338,000. 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 worth $9,268,000 after buying an additional 149,093 shares in the last quarter. 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 worth $1,560,000 after buying an additional 19,723 shares in the last quarter. Finally, 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 worth $1,911,000 after buying an additional 688 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the firm’s 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 transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TAP shares. Piper Sandler started coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Citigroup cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $66.00 to $56.00 in a research note on Wednesday. Finally, Barclays upped their price objective on 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.07.

Molson Coors Beverage Trading Down 0.7 %

Molson Coors Beverage stock opened at $63.70 on Thursday. The stock has a 50-day moving average of $65.08 and a two-hundred day moving average of $62.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The stock has a market cap of $13.54 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84.

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 return on equity of 8.89% and a net margin of 6.83%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company 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 represents a $1.76 annualized dividend and a dividend yield of 2.76%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

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.