US Bancorp DE Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

US Bancorp DE boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 103.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,285 shares of the company’s stock after buying an additional 9,825 shares during the quarter. US Bancorp DE’s holdings in Molson Coors Beverage were worth $1,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position 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 valued at $99,000 after acquiring an additional 182 shares during the period. Janney Montgomery Scott LLC boosted its position in Molson Coors Beverage by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 22,789 shares of the company’s stock worth $1,311,000 after purchasing an additional 4,160 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Molson Coors Beverage by 4.3% in the third quarter. Asset Management One Co. Ltd. now owns 68,533 shares of the company’s stock valued at $3,942,000 after purchasing an additional 2,832 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Molson Coors Beverage by 16.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,463 shares of the company’s stock valued at $372,000 after buying an additional 921 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after buying an additional 9,510 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TAP. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Barclays lifted their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Finally, UBS Group increased 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Up 4.2 %

Shares of TAP stock opened at $61.91 on Monday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The company’s 50-day moving average price is $56.83 and its 200-day moving average price is $57.17. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.