Molson Coors Beverage (NYSE:TAP) Position Increased by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in Molson Coors Beverage (NYSE:TAP) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,292 shares of the company’s stock after buying an additional 12,000 shares during the period. Sound Income Strategies LLC’s holdings in Molson Coors Beverage were worth $5,462,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter worth $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage during the 3rd quarter worth about $42,000. True Wealth Design LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter worth about $59,000. Quarry LP purchased a new stake in Molson Coors Beverage during the second quarter valued at about $54,000. Finally, Allworth Financial LP boosted its holdings 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 buying an additional 297 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE TAP opened at $54.03 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.13 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a 50 day moving average price of $58.52 and a two-hundred day moving average price of $56.01.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, equities analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.26%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

TAP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays reduced their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. UBS Group lowered their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, TD Cowen lowered their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.79.

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.