Commonwealth Equity Services LLC Grows Position in Molson Coors Beverage (NYSE:TAP)

Commonwealth Equity Services LLC grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,564 shares of the company’s stock after purchasing an additional 8,339 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Molson Coors Beverage worth $7,312,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TAP. Clark Estates Inc. NY lifted its holdings in Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in 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 buying an additional 563 shares during the last quarter. US Bancorp DE increased its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth $871,000. Finally, Wilsey Asset Management Inc. increased its holdings in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after purchasing an additional 8,679 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $58.93 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $57.44 and a 200 day moving average price of $57.50. The company has a market cap of $11.94 billion, a P/E ratio of 11.02, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share 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 firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.19%. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TAP. UBS Group boosted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Barclays raised Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. BNP Paribas initiated coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.67.

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.