Principal Securities Inc. increased its holdings in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,482 shares of the company’s stock after buying an additional 968 shares during the quarter. Principal Securities Inc.’s holdings in Molson Coors Beverage were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after acquiring an additional 182 shares during the period. Integrated Investment Consultants LLC increased its position in Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the period. Red Spruce Capital LLC raised its stake in Molson Coors Beverage by 1.0% during the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock worth $1,548,000 after purchasing an additional 273 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Molson Coors Beverage by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.
Molson Coors Beverage Trading Down 0.2 %
NYSE TAP opened at $60.29 on Friday. The firm has a market capitalization of $12.42 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a 50-day simple moving average of $56.41 and a 200-day simple moving average of $56.60. 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 Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on TAP shares. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Barclays upped their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $63.27.
Get Our Latest Research Report on TAP
Molson Coors Beverage 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.
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