United Capital Financial Advisors LLC Has $304,000 Position in Molson Coors Beverage (NYSE:TAP)

United Capital Financial Advisors LLC boosted its position in Molson Coors Beverage (NYSE:TAP) by 26.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,307 shares of the company’s stock after purchasing an additional 1,102 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Molson Coors Beverage were worth $304,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC raised its holdings in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after acquiring an additional 489 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley increased their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Barclays decreased their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. dropped 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 research report on Thursday, January 30th. UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.39.

Molson Coors Beverage Trading Down 1.5 %

TAP stock opened at $57.89 on Tuesday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $65.24. The company has a market capitalization of $11.73 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company’s 50-day simple moving average is $60.10 and its 200 day simple moving average is $58.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued 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 annualized dividend and a yield of 3.25%. Molson Coors Beverage’s payout ratio is currently 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.