Molson Coors Beverage (NYSE:TAP) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 26.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,901 shares of the company’s stock after purchasing an additional 1,246 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Molson Coors Beverage were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Family Firm Inc. purchased a new position in Molson Coors Beverage in the 2nd quarter worth $26,000. Altshuler Shaham Ltd purchased a new position in shares of Molson Coors Beverage in the second quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter worth about $35,000. Gladius Capital Management LP purchased a new stake in Molson Coors Beverage in the third quarter valued at approximately $42,000. Finally, Quarry LP acquired a new position in Molson Coors Beverage in the 2nd quarter worth approximately $54,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAP has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Barclays raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.00.

Molson Coors Beverage Stock Up 0.2 %

Shares of NYSE TAP opened at $61.07 on Monday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The company’s 50-day simple moving average is $58.53 and its 200-day simple moving average is $55.01. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its 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 analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 earnings per share. Equities analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.88%. 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.