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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at $42,000. True Wealth Design LLC acquired a new position in Molson Coors Beverage in the third quarter valued at $59,000. Allworth Financial LP lifted its position in Molson Coors Beverage by 33.7% during 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. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TAP. BNP Paribas initiated coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Barclays decreased their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. 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, Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Stock Up 0.6 %

TAP stock opened at $54.00 on Wednesday. The stock has a market cap of $11.12 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm’s 50-day simple moving average is $56.74 and its 200 day simple moving average is $56.27. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two 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.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.44 per share. 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 dividend payout ratio (DPR) is presently 39.64%.

Molson Coors Beverage 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.