Kentucky Retirement Systems Insurance Trust Fund Purchases 397 Shares of Molson Coors Beverage (NYSE:TAP)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Molson Coors Beverage (NYSE:TAP) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,599 shares of the company’s stock after buying an additional 397 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Molson Coors Beverage were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter worth $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $42,000. Catalyst Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $59,000. Finally, Allworth Financial LP lifted its stake in shares of Molson Coors Beverage by 33.7% during the 3rd 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. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TAP. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Barclays upped their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. UBS Group upped their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Trading Down 0.8 %

Shares of NYSE:TAP opened at $60.16 on Thursday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 2.23 and a beta of 0.85. 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 business has a 50-day moving average price of $56.43 and a 200-day moving average price of $56.49.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Equities analysts predict that Molson Coors Beverage will post 6.11 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.13%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 32.90%.

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.