Measured Wealth Private Client Group LLC Makes New $770,000 Investment in Molson Coors Beverage (NYSE:TAP)

Measured Wealth Private Client Group LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,579 shares of the company’s stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kestra Private Wealth Services LLC raised its holdings in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after purchasing an additional 174 shares during the period. IMPACTfolio LLC raised its holdings in shares of Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after purchasing an additional 176 shares during the period. Syntax Advisors LLC raised its holdings in shares of Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased 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 worth $970,000 after acquiring an additional 196 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of Molson Coors Beverage by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after acquiring an additional 200 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Price Performance

Shares of TAP traded up $0.05 during mid-day trading on Friday, hitting $57.85. The company’s stock had a trading volume of 2,054,717 shares, compared to its average volume of 2,096,558. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.50. The firm has a 50-day moving average price of $64.77 and a 200 day moving average price of $62.32. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly 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 net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.04%. Molson Coors Beverage’s payout ratio is 35.20%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TAP shares. Evercore ISI dropped their price objective on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Barclays dropped their price objective 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. Finally, StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.