Stephens Inc. AR Purchases 1,370 Shares of Molson Coors Beverage (NYSE:TAP)

Stephens Inc. AR boosted its position in Molson Coors Beverage (NYSE:TAP) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,610 shares of the company’s stock after purchasing an additional 1,370 shares during the period. Stephens Inc. AR’s holdings in Molson Coors Beverage were worth $1,124,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the third quarter worth $42,000. True Wealth Design LLC bought a new stake in shares of Molson Coors Beverage in the third quarter worth $59,000. Allworth Financial LP grew its stake 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 worth $68,000 after purchasing an additional 297 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Molson Coors Beverage in the third quarter valued at $77,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Down 1.1 %

NYSE TAP opened at $53.39 on Thursday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.00 billion, a PE ratio of 12.02, a P/E/G ratio of 2.07 and a beta of 0.85. The stock’s 50 day moving average is $56.57 and its 200 day moving average is $56.25.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.30%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TAP shares. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. UBS Group lowered their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.36.

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.