Bfsg LLC Invests $119,000 in Molson Coors Beverage (NYSE:TAP)

Bfsg LLC bought a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,937 shares of the company’s stock, valued at approximately $119,000.

Several other institutional investors have also recently added to or reduced their stakes in TAP. Pacer Advisors Inc. increased its holdings in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after purchasing an additional 2,121,211 shares during the period. AQR Capital Management LLC grew its holdings in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after acquiring an additional 1,500,269 shares during the period. Morgan Stanley grew its holdings in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after acquiring an additional 988,864 shares during the period. Deutsche Bank AG grew its holdings in Molson Coors Beverage by 57.4% during the third quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock worth $78,446,000 after acquiring an additional 449,971 shares during the period. Finally, River Road Asset Management LLC grew its holdings in Molson Coors Beverage by 94.8% during the fourth quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock worth $51,623,000 after acquiring an additional 410,467 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 1.9 %

NYSE TAP traded down $1.24 during trading hours on Thursday, hitting $62.46. 431,857 shares of the company’s stock were exchanged, compared to its average volume of 1,658,905. The business’s 50 day moving average is $65.13 and its 200-day moving average is $62.31. The firm has a market capitalization of $13.28 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for 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 last year, the business posted $1.30 EPS. As a group, analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the firm’s 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 directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Citigroup lowered Molson Coors Beverage from a “neutral” rating to a “sell” rating and lowered their target price for the company from $66.00 to $56.00 in a report on Wednesday. Finally, Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.