Molson Coors Beverage (NYSE:TAP) Shares Bought by NewSquare Capital LLC

NewSquare Capital LLC lifted its stake in Molson Coors Beverage (NYSE:TAP) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,385 shares of the company’s stock after purchasing an additional 915 shares during the quarter. NewSquare Capital LLC’s holdings in Molson Coors Beverage were worth $758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter valued at approximately $32,000. Allworth Financial LP lifted its stake in Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of Molson Coors Beverage by 118.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 835 shares of the company’s stock valued at $55,000 after buying an additional 452 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Molson Coors Beverage in the 4th quarter valued at about $61,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.16 during midday trading on Wednesday, hitting $64.02. 1,281,471 shares of the stock were exchanged, compared to its average volume of 1,659,605. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $65.02 and a 200-day moving average price of $62.27. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The stock has a market cap of $13.61 billion, a P/E ratio of 14.71, a PEG ratio of 2.23 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. On average, research analysts forecast that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of analyst reports. Piper Sandler began coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Barclays increased their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Two equities 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.07.

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.