Molson Coors Beverage (NYSE:TAP) Shares Bought by Callan Capital LLC

Callan Capital LLC boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 20.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,784 shares of the company’s stock after acquiring 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 filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $42,000. Catalyst Capital Advisors LLC grew its position in shares of 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 purchasing an additional 428 shares during the period. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $59,000. Finally, Allworth Financial LP grew its position in shares of 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 purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TAP. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Price Performance

Shares of TAP 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’s 50-day moving average is $56.41 and its two-hundred day moving average is $56.60. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market capitalization 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 EPS for the quarter, topping 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company 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. The ex-dividend date is Thursday, February 27th. This is an increase 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 3.12%. Molson Coors Beverage’s payout ratio is 35.14%.

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.