3,964 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new stake in Molson Coors Beverage (NYSE:TAP) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,964 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its holdings 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 valued at $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Private Trust Co. NA grew its position in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares in the last quarter. True Wealth Design LLC bought a new stake in Molson Coors Beverage in the third quarter worth approximately $59,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after purchasing an additional 218 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $57.00 to $70.00 in a report on Friday, December 6th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $56.00 to $62.00 in a report on Thursday, March 13th. Finally, UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Stock Up 1.1 %

NYSE TAP opened at $58.93 on Friday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market cap of $11.94 billion, a PE ratio of 11.02, a PEG ratio of 1.52 and a beta of 0.81. The firm has a 50-day simple moving average of $57.44 and a 200 day simple moving average of $57.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase 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 dividend payout ratio (DPR) is presently 35.14%.

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.