Linden Thomas Advisory Services LLC Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Linden Thomas Advisory Services LLC increased its holdings in Molson Coors Beverage (NYSE:TAP) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,607 shares of the company’s stock after purchasing an additional 200 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Molson Coors Beverage were worth $710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. IMPACTfolio LLC lifted its stake in shares of Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after acquiring an additional 176 shares during the last quarter. Syntax Advisors LLC boosted its position in Molson Coors Beverage by 5.0% during the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after buying an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Molson Coors Beverage by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after acquiring an additional 196 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of Molson Coors Beverage by 4.5% in the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after acquiring an additional 213 shares during the period. Finally, Seed Wealth Management Inc. raised its stake in shares of Molson Coors Beverage by 7.6% during the fourth quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock valued at $219,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Piper Sandler began coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.07.

Molson Coors Beverage Stock Down 1.4 %

TAP stock opened at $62.82 on Friday. The stock has a market capitalization of $13.36 billion, a P/E ratio of 14.41, a P/E/G ratio of 2.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The business has a fifty day moving average price of $65.13 and a 200-day moving average price of $62.31.

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, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates 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 revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. Equities analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal 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 is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.80%. Molson Coors Beverage’s dividend payout ratio is 40.37%.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.71% of the stock is currently owned by corporate insiders.

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.