Molson Coors Beverage (NYSE:TAP) Shares Acquired by Cwm LLC

Cwm LLC lifted its position in shares of Molson Coors Beverage (NYSE:TAP) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,501 shares of the company’s stock after purchasing an additional 1,260 shares during the period. Cwm LLC’s holdings in Molson Coors Beverage were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IMPACTfolio LLC lifted its holdings in Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Syntax Advisors LLC raised its stake in Molson Coors Beverage by 5.0% during the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Molson Coors Beverage by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after purchasing an additional 196 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Molson Coors Beverage by 4.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after purchasing an additional 213 shares during the period. Finally, Seed Wealth Management Inc. grew its stake in Molson Coors Beverage by 7.6% during the 4th quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock worth $219,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TAP shares. Piper Sandler began coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Bank of America lowered their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. UBS Group lowered their price target on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $65.87.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $57.08 on Thursday. The firm’s fifty day simple moving average is $65.07 and its 200-day simple moving average is $62.40. 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 stock has a market cap of $12.14 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 2.19 and a beta of 0.84. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. Molson Coors Beverage’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.08%. 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 dividend payout ratio is 40.37%.

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.