1,937 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Bfsg LLC

Bfsg LLC acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,937 shares of the company’s stock, valued at approximately $119,000.

A number of other large investors have also recently made changes to their positions in TAP. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $32,000. Allworth Financial LP increased its position in shares of Molson Coors Beverage by 179.4% during 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 last quarter. Wetzel Investment Advisors Inc. purchased a new position in Molson Coors Beverage during the 4th quarter valued at about $61,000. Finally, Signaturefd LLC boosted its holdings in Molson Coors Beverage by 30.2% during the 4th quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock valued at $73,000 after acquiring an additional 277 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 1.9 %

NYSE:TAP traded down $1.24 on Thursday, hitting $62.46. 431,857 shares of the stock were exchanged, compared to its average volume of 1,658,905. The stock has a market cap of $13.28 billion, a PE ratio of 14.37, a PEG ratio of 2.22 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $65.13 and a 200-day moving average of $62.31. 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 issued its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 earnings per share. As a group, equities analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend 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 (DPR) is currently 40.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Piper Sandler began coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Citigroup downgraded Molson Coors Beverage from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $66.00 to $56.00 in a research report on Wednesday. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $68.07.

Insiders Place Their Bets

In related news, CFO Tracey Joubert sold 2,771 shares of the business’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 transaction of $167,285.27. Following the completion of the transaction, 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 is available at the SEC website. 2.71% of the stock is currently owned by company insiders.

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.