Merit Financial Group LLC Makes New $401,000 Investment in Molson Coors Beverage (NYSE:TAP)

Merit Financial Group LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,988 shares of the company’s stock, valued at approximately $401,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clark Estates Inc. NY grew its holdings in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after acquiring an additional 563 shares during the period. Qsemble Capital Management LP boosted its holdings in Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after acquiring an additional 9,234 shares during the last quarter. Principal Financial Group Inc. increased its position in Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after purchasing an additional 9,510 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in Molson Coors Beverage during the 2nd quarter worth about $1,237,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TAP shares. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. TD Cowen lowered their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. UBS Group lowered their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.79.

Molson Coors Beverage Stock Up 2.2 %

TAP stock opened at $55.23 on Friday. The company’s 50 day moving average is $58.37 and its 200 day moving average is $56.05. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. Sell-side analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is presently 39.64%.

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.