590 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Transcendent Capital Group LLC

Transcendent Capital Group LLC bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, HoldingsChannel reports. The fund bought 590 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TAP. Kestra Private Wealth Services LLC lifted its position in shares of Molson Coors Beverage by 1.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after acquiring an additional 174 shares during the last quarter. IMPACTfolio LLC lifted its position in Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares in the last quarter. Syntax Advisors LLC boosted its stake in shares of Molson Coors Beverage by 5.0% during the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after buying an additional 185 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after buying an additional 200 shares during the period. Finally, Kentucky Retirement Systems grew its holdings in shares of Molson Coors Beverage by 1.5% during the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after acquiring an additional 221 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on TAP shares. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. UBS Group dropped their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their target price on shares of Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Citigroup reduced their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.07.

Molson Coors Beverage Stock Performance

NYSE:TAP traded down $0.77 during trading hours on Friday, hitting $49.53. 2,881,495 shares of the company traded hands, compared to its average volume of 2,317,569. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $70.90. The firm has a 50-day moving average of $58.06 and a 200 day moving average of $61.44. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.79 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.55%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

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.