Farther Finance Advisors LLC Buys 674 Shares of Molson Coors Beverage (NYSE:TAP)

Farther Finance Advisors LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 39.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,394 shares of the company’s stock after acquiring an additional 674 shares during the period. Farther Finance Advisors LLC’s holdings in Molson Coors Beverage were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TAP. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage during the third quarter valued at approximately $48,202,000. State Street Corp increased its holdings in Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Molson Coors Beverage during the fourth quarter valued at approximately $27,660,000. Bank of New York Mellon Corp increased its holdings in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after buying an additional 434,250 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after buying an additional 294,596 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TAP. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. UBS Group increased their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced 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 research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $63.67.

Molson Coors Beverage Price Performance

TAP stock opened at $58.93 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. 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 company has a fifty day simple moving average of $57.44 and a two-hundred day simple moving average of $57.50. The firm has a market capitalization of $11.94 billion, a P/E ratio of 11.02, 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 data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.19%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

About Molson Coors Beverage

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.