Molson Coors Beverage (NYSE:TAP) Shares Purchased by Keating Investment Counselors Inc.

Keating Investment Counselors Inc. raised its stake in Molson Coors Beverage (NYSE:TAP) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,772 shares of the company’s stock after acquiring an additional 790 shares during the period. Molson Coors Beverage accounts for about 1.5% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 18th biggest holding. Keating Investment Counselors Inc.’s holdings in Molson Coors Beverage were worth $4,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TAP. State Street Corp raised its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the last quarter. River Road Asset Management LLC increased its position in Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after acquiring an additional 29,315 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Molson Coors Beverage during the 3rd quarter valued at $48,202,000. FMR LLC boosted its position in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after acquiring an additional 134,689 shares during the period. Finally, Private Management Group Inc. grew its stake in shares of Molson Coors Beverage by 5.5% in the third quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock worth $32,081,000 after purchasing an additional 29,294 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 3.0 %

Shares of NYSE:TAP opened at $60.33 on Tuesday. The firm has a 50 day simple moving average of $56.48 and a 200 day simple moving average of $56.41. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market cap of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its 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 return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TAP shares. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $62.73.

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.