Empirical Finance LLC Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Empirical Finance LLC grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 147.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,899 shares of the company’s stock after acquiring an additional 9,464 shares during the quarter. Empirical Finance LLC’s holdings in Molson Coors Beverage were worth $911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. True Wealth Design LLC purchased a new position in Molson Coors Beverage in the third quarter worth about $59,000. Allworth Financial LP increased its stake in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after acquiring an additional 297 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Molson Coors Beverage during the third quarter valued at approximately $77,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $53.60 on Tuesday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a fifty day simple moving average of $56.89 and a two-hundred day simple moving average of $56.27.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Molson Coors Beverage Company 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.