Xponance Inc. Has $1.39 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Xponance Inc. trimmed its position in Molson Coors Beverage (NYSE:TAP) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,298 shares of the company’s stock after selling 981 shares during the quarter. Xponance Inc.’s holdings in Molson Coors Beverage were worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC increased its position in Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after buying an additional 199 shares during the period. Venturi Wealth Management LLC grew its position in shares of Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after buying an additional 202 shares during the period. Truvestments Capital LLC grew its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Finally, SRS Capital Advisors Inc. grew its position 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 period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TAP shares. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $56.00 to $62.00 in a report on Thursday, March 13th. UBS Group lifted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Trading Down 0.5 %

NYSE TAP opened at $58.72 on Friday. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.81. The stock’s 50 day moving average price is $57.56 and its two-hundred day moving average price is $57.54. 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 has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data 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 return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 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.