AlphaStar Capital Management LLC Buys 2,752 Shares of Molson Coors Beverage (NYSE:TAP)

AlphaStar Capital Management LLC raised its stake in Molson Coors Beverage (NYSE:TAP) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,477 shares of the company’s stock after buying an additional 2,752 shares during the period. AlphaStar Capital Management LLC’s holdings in Molson Coors Beverage were worth $1,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TAP. Farther Finance Advisors LLC grew its stake in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the last quarter. Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares during the last quarter. Perpetual Ltd increased its stake in shares of Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after buying an additional 197 shares during the period. Pallas Capital Advisors LLC raised its position in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares during the last quarter. Finally, Red Spruce Capital LLC lifted its stake in shares of Molson Coors Beverage by 1.0% in the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock worth $1,548,000 after acquiring an additional 273 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. UBS Group dropped their price objective on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $54.23 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. 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 business has a 50 day moving average price of $57.05 and a 200-day moving average price of $56.25. The company has a market cap of $11.17 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. Equities analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is currently 39.64%.

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.