Blue Trust Inc. Has $226,000 Stake in Molson Coors Beverage (NYSE:TAP)

Blue Trust Inc. lifted its position in shares of Molson Coors Beverage (NYSE:TAP) by 33.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,926 shares of the company’s stock after purchasing an additional 975 shares during the quarter. Blue Trust Inc.’s holdings in Molson Coors Beverage were worth $226,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares during the last quarter. Perpetual Ltd raised its holdings in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the last quarter. Finally, Red Spruce Capital LLC boosted its holdings in shares of Molson Coors Beverage by 1.0% in the 4th quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after buying an additional 273 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 2.5 %

TAP opened at $53.40 on Tuesday. The stock has a fifty day moving average of $57.68 and a 200-day moving average of $56.25. The company has a market capitalization of $11.00 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.52 and a beta of 0.85. 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 debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders 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 dividend yield of 3.30%. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Barclays lowered their price objective on shares of 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. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday. Needham & Company LLC initiated coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price target on the stock. Finally, TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.64.

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.