Bank Julius Baer & Co. Ltd Zurich Buys 3,924 Shares of Molson Coors Beverage (NYSE:TAP)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,629 shares of the company’s stock after purchasing an additional 3,924 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Molson Coors Beverage were worth $6,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $29,000. Stone House Investment Management LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $32,000. Allworth Financial LP raised its stake 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 valued at $38,000 after purchasing an additional 400 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $61,000. Finally, Signaturefd LLC raised its stake in shares of 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 purchasing an additional 277 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TAP has been the subject of several recent analyst reports. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. 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 cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $66.00 to $56.00 in a research report on Wednesday. Finally, StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $68.07.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.28 during midday trading on Friday, reaching $62.54. The stock had a trading volume of 1,404,410 shares, compared to its average volume of 1,673,022. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.20 and a beta of 0.84. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The company’s 50-day moving average is $65.14 and its 200 day moving average is $62.31. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

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, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. Molson Coors Beverage’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. On average, equities analysts predict that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.44 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.81%. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Molson Coors Beverage Company 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.