Callan Capital LLC Acquires 997 Shares of Molson Coors Beverage (NYSE:TAP)

Callan Capital LLC increased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,784 shares of the company’s stock after purchasing an additional 997 shares during the period. Callan Capital LLC’s holdings in Molson Coors Beverage were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TAP. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares in the last quarter. True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $59,000. Finally, Allworth Financial LP boosted its stake in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TAP. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Down 0.2 %

Shares of Molson Coors Beverage stock opened at $60.29 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a fifty day moving average price of $56.41 and a 200 day moving average price of $56.60. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap 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 (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Equities research analysts predict that Molson Coors Beverage will post 6.35 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. Investors of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend 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 dividend payout ratio (DPR) is 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.