By otakuyassine3@gmail.com 
US Bancorp DE grew its position in Molson Coors Beverage (NYSE:TAP – Free Report) by 103.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,285 shares of the company’s stock after acquiring an additional 9,825 shares during the quarter. US Bancorp DE’s holdings in Molson Coors Beverage were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the third quarter valued at about $42,000. Catalyst Capital Advisors LLC boosted its holdings in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Private Trust Co. NA raised its position in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $59,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
TAP has been the topic of a number of research reports. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.27.
Check Out Our Latest Analysis on TAP
Molson Coors Beverage Stock Performance
Shares of TAP stock opened at $61.91 on Monday. The company’s 50-day simple moving average is $56.83 and its 200-day simple moving average is $57.17. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The stock has a market capitalization of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.
Molson Coors Beverage Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.
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.
See Also
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