Molson Coors Beverage (NYSE:TAP) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its position in Molson Coors Beverage (NYSE:TAP – Get Rating) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,637 shares of the company’s stock after acquiring an additional 2,963 shares during the quarter. Sound Income Strategies LLC’s holdings in Molson Coors Beverage were worth $3,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TAP. Vanguard Group Inc. boosted its holdings in Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares during the last quarter. Amundi boosted its holdings in Molson Coors Beverage by 139.0% in the second quarter. Amundi now owns 1,401,574 shares of the company’s stock valued at $78,404,000 after acquiring an additional 815,188 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Molson Coors Beverage by 75.9% in the second quarter. AQR Capital Management LLC now owns 1,604,856 shares of the company’s stock valued at $87,481,000 after acquiring an additional 692,661 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Molson Coors Beverage by 783.0% in the third quarter. Captrust Financial Advisors now owns 401,991 shares of the company’s stock valued at $19,292,000 after acquiring an additional 356,465 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,216,836 shares of the company’s stock valued at $171,722,000 after acquiring an additional 312,326 shares during the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Molson Coors Beverage Stock Down 3.0 %

Shares of NYSE:TAP traded down $1.57 during trading on Friday, hitting $49.91. The company’s stock had a trading volume of 5,250,091 shares, compared to its average volume of 1,778,749. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.78. Molson Coors Beverage has a fifty-two week low of $46.69 and a fifty-two week high of $60.12. The stock’s 50-day moving average price is $52.03 and its two-hundred day moving average price is $51.42. The company has a market capitalization of $10.80 billion, a PE ratio of -60.87, a PEG ratio of 3.26 and a beta of 0.83.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.06 by $0.24. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Molson Coors Beverage will post 4.09 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were issued a $0.41 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 3.29%. The ex-dividend date was Thursday, March 2nd. Molson Coors Beverage’s payout ratio is currently -200.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TAP shares. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $60.00 in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft cut Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, December 6th. Roth Capital restated a “buy” rating on shares of Molson Coors Beverage in a research note on Tuesday, February 21st. Citigroup began coverage on Molson Coors Beverage in a research note on Thursday, February 16th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $60.00 in a research note on Friday, January 6th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.09.

About Molson Coors Beverage

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.