Prosperitas Financial LLC lifted its stake in shares of Molson Coors Beverage Company (NYSE:TAP – Free Report) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,653 shares of the company’s stock after buying an additional 14,613 shares during the quarter. Prosperitas Financial LLC’s holdings in Molson Coors Beverage were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in TAP. Root Financial Partners LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. grew its position in shares of Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after buying an additional 244 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Molson Coors Beverage by 134.2% during the third quarter. IFP Advisors Inc now owns 787 shares of the company’s stock worth $38,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TAP shares. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a research report on Thursday, February 19th. TD Cowen reduced their price objective on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Finally, Jefferies Financial Group reduced their price objective on Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.71.
Molson Coors Beverage Stock Performance
TAP stock opened at $41.49 on Tuesday. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of -3.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. Molson Coors Beverage Company has a 1 year low of $40.64 and a 1 year high of $57.57. The stock’s fifty day moving average is $43.80 and its two-hundred day moving average is $46.27.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. On average, research analysts predict that Molson Coors Beverage Company will post 4.74 EPS for the current year.
Molson Coors Beverage Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.
Insider Activity at Molson Coors Beverage
In other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 2,000 shares of the stock in a transaction dated Monday, March 9th. The shares were bought at an average cost of $46.67 per share, with a total value of $93,340.00. Following the completion of the acquisition, the director owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.
Molson Coors Beverage Profile
Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.
In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.
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