Molson Coors Beverage (NYSE:TAP) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its stake in Molson Coors Beverage (NYSE:TAP) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,607 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Molson Coors Beverage were worth $710,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWM LLC boosted its holdings in Molson Coors Beverage by 51.8% during the third quarter. CWM LLC now owns 5,241 shares of the company’s stock worth $333,000 after buying an additional 1,788 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Molson Coors Beverage by 19.7% during the 3rd quarter. Caprock Group LLC now owns 7,579 shares of the company’s stock worth $482,000 after acquiring an additional 1,245 shares in the last quarter. Czech National Bank grew its position in shares of Molson Coors Beverage by 46.0% during the 3rd quarter. Czech National Bank now owns 32,441 shares of the company’s stock valued at $2,063,000 after acquiring an additional 10,216 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Molson Coors Beverage by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock valued at $4,760,000 after purchasing an additional 869 shares in the last quarter. Finally, Oak Family Advisors LLC raised its holdings in Molson Coors Beverage by 22.1% in the 3rd quarter. Oak Family Advisors LLC now owns 116,991 shares of the company’s stock worth $7,439,000 after purchasing an additional 21,167 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Barclays increased their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted 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 raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, Citigroup cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $66.00 to $56.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.07.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the 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 sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Price Performance

TAP stock opened at $62.82 on Friday. The stock’s 50 day moving average is $65.13 and its two-hundred day moving average is $62.31. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90. The company has a market capitalization of $13.36 billion, a PE ratio of 14.41, a P/E/G ratio of 2.20 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. Analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.80%. Molson Coors Beverage’s dividend payout ratio (DPR) is 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.