Sovereign Investment Advisors LLC Makes New $226,000 Investment in Molson Coors Beverage (NYSE:TAP)

Sovereign Investment Advisors LLC bought a new position in Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,948 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also bought and sold shares of TAP. Principal Financial Group Inc. raised its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after buying an additional 9,510 shares in the last quarter. 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 in the last quarter. Huntington National Bank raised its position in shares of Molson Coors Beverage by 27.3% during the 3rd quarter. Huntington National Bank now owns 1,508 shares of the company’s stock valued at $87,000 after buying an additional 323 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Molson Coors Beverage by 36.5% during the 3rd quarter. Metis Global Partners LLC now owns 16,704 shares of the company’s stock valued at $961,000 after buying an additional 4,469 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. CIBC Asset Management Inc now owns 31,049 shares of the company’s stock valued at $1,786,000 after buying an additional 1,388 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective 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. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, UBS Group lifted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $59.68 on Friday. The firm has a market cap of $12.09 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $57.17 and its two-hundred day simple moving average is $57.38.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly 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. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates 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 expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced 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. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. 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 3.15%. Molson Coors Beverage’s payout ratio is presently 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.