Howard Capital Management Inc. Invests $297,000 in Molson Coors Beverage (NYSE:TAP)

Howard Capital Management Inc. acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,180 shares of the company’s stock, valued at approximately $297,000.

A number of other large investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC increased its position in 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 in the last quarter. True Wealth Design LLC acquired a new position in Molson Coors Beverage during the 3rd quarter valued at about $59,000. Finally, Allworth Financial LP grew its stake in Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Trading Down 0.7 %

NYSE TAP opened at $60.75 on Wednesday. The firm’s 50-day moving average is $56.47 and its two-hundred day moving average is $56.75. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market capitalization of $12.51 billion, a P/E ratio of 11.35, a PEG ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.09%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

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.