Benjamin F. Edwards & Company Inc. Acquires 4,367 Shares of Molson Coors Beverage (NYSE:TAP)

Benjamin F. Edwards & Company Inc. grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 485.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,266 shares of the company’s stock after acquiring an additional 4,367 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Molson Coors Beverage were worth $322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tennessee Valley Asset Management Partners bought a new stake in Molson Coors Beverage during the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $32,000. Allworth Financial LP raised its position in Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after purchasing an additional 400 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Molson Coors Beverage in the fourth quarter worth $61,000. Finally, Signaturefd LLC boosted its position in Molson Coors Beverage by 30.2% during the fourth quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock valued at $73,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Price Performance

TAP stock opened at $58.81 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The firm has a 50-day moving average of $64.41 and a 200 day moving average of $62.30. The company has a market cap of $12.50 billion, a P/E ratio of 11.76, a PEG ratio of 2.09 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.99%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TAP shares. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Barclays cut their target price on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Evercore ISI dropped their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.53.

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.