Unified Investment Management Invests $871,000 in Molson Coors Beverage (NYSE:TAP)

Unified Investment Management bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,201 shares of the company’s stock, valued at approximately $871,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Clark Estates Inc. NY boosted its holdings in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after acquiring an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its position 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 purchasing an additional 563 shares in the last quarter. Wilsey Asset Management Inc. raised its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares in the last quarter. Qsemble Capital Management LP raised its position in Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after purchasing an additional 9,510 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $61.25 on Monday. 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 market capitalization of $12.45 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The company’s 50-day moving average is $56.64 and its 200 day moving average is $56.94. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

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

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analyst Ratings Changes

TAP has been the topic of several recent analyst reports. Barclays raised their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. UBS Group raised their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Morgan Stanley raised their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $63.27.

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.