Ieq Capital LLC Purchases 47,425 Shares of Molson Coors Beverage (NYSE:TAP)

Ieq Capital LLC lifted its position in Molson Coors Beverage (NYSE:TAP) by 236.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,451 shares of the company’s stock after buying an additional 47,425 shares during the period. Ieq Capital LLC’s holdings in Molson Coors Beverage were worth $3,866,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Clark Estates Inc. NY boosted its stake in Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the period. Wilsey Asset Management Inc. boosted its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after purchasing an additional 8,679 shares during the period. Qsemble Capital Management LP boosted its stake in Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after purchasing an additional 9,234 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after purchasing an additional 9,510 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TAP shares. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. 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. 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Down 0.2 %

Shares of NYSE:TAP opened at $60.29 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 market capitalization of $12.42 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The company has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $56.58. 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 issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (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 the consensus estimate of $2.71 billion. Sell-side analysts forecast 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 paid a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 32.90%.

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.