C M Bidwell & Associates Ltd. Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

C M Bidwell & Associates Ltd. increased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 60.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,655 shares of the company’s stock after purchasing an additional 2,135 shares during the period. C M Bidwell & Associates Ltd.’s holdings in Molson Coors Beverage were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TAP. D.A. Davidson & CO. raised its stake in shares of Molson Coors Beverage by 7.8% in the third quarter. D.A. Davidson & CO. now owns 27,485 shares of the company’s stock valued at $1,581,000 after acquiring an additional 1,980 shares in the last quarter. FMR LLC increased its holdings in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after purchasing an additional 134,689 shares during the period. Captrust Financial Advisors boosted its stake in shares of Molson Coors Beverage by 25.4% in the 3rd quarter. Captrust Financial Advisors now owns 32,090 shares of the company’s stock valued at $1,846,000 after buying an additional 6,503 shares during the period. Verition Fund Management LLC grew its position in shares of Molson Coors Beverage by 927.7% during the third quarter. Verition Fund Management LLC now owns 79,617 shares of the company’s stock worth $4,580,000 after buying an additional 71,870 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $59,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $60.52 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock’s 50-day moving average price is $58.11 and its 200 day moving average price is $57.72. 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 stock has a market capitalization of $12.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Barclays decreased their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Morgan Stanley upped their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.60.

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.