Venturi Wealth Management LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Venturi Wealth Management LLC increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,935 shares of the company’s stock after buying an additional 202 shares during the quarter. Venturi Wealth Management LLC’s holdings in Molson Coors Beverage were worth $168,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TAP. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $48,202,000. State Street Corp raised its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Invenomic Capital Management LP raised its position in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after buying an additional 294,596 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Molson Coors Beverage by 149.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock valued at $21,652,000 after buying an additional 225,296 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Molson Coors Beverage by 92.8% during the 3rd quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock valued at $24,966,000 after buying an additional 208,974 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the topic of several analyst reports. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. Finally, 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 report on Friday, November 8th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $60.29 on Friday. The company has a fifty day simple moving average of $56.41 and a two-hundred day simple moving average of $56.58. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s payout ratio is 32.90%.

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.