Kentucky Trust Co Acquires Shares of 2,890 Molson Coors Beverage (NYSE:TAP)

Kentucky Trust Co bought a new position in Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,890 shares of the company’s stock, valued at approximately $166,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in Molson Coors Beverage in the third quarter worth approximately $59,000. Allworth Financial LP raised its position in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after purchasing an additional 297 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.6 %

Shares of Molson Coors Beverage stock opened at $54.00 on Wednesday. The company has a market cap of $11.12 billion, a P/E ratio of 12.16, a PEG ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average of $56.74 and a two-hundred day moving average of $56.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.26%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the company from $52.00 to $74.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.