Louisiana State Employees Retirement System Invests $686,000 in Molson Coors Beverage (NYSE:TAP)

Louisiana State Employees Retirement System acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,200 shares of the company’s stock, valued at approximately $686,000.

Several other large investors have also modified their holdings of the stock. Tennessee Valley Asset Management Partners purchased a new position in Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC purchased a new position in Molson Coors Beverage in the third quarter valued at approximately $32,000. Allworth Financial LP raised its holdings in Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after buying an additional 400 shares during the period. WFA of San Diego LLC purchased a new position in Molson Coors Beverage in the third quarter valued at approximately $84,000. Finally, Salem Investment Counselors Inc. raised its holdings in Molson Coors Beverage by 179.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,395 shares of the company’s stock valued at $85,000 after buying an additional 895 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on TAP shares. 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 report on Wednesday, April 17th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective on the stock. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, 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 company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.07.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $62.54 on Friday. The company has a market cap of $13.30 billion, a PE ratio of 14.34, a P/E/G ratio of 2.17 and a beta of 0.84. The company has a fifty day moving average price of $65.15 and a two-hundred day moving average price of $62.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90.

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

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is currently 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.