Molson Coors Beverage (NYSE:TAP) Shares Bought by Loudon Investment Management LLC

Loudon Investment Management LLC grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 51.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,700 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Loudon Investment Management LLC’s holdings in Molson Coors Beverage were worth $671,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Integrated Investment Consultants LLC boosted its position in shares of 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 purchasing an additional 185 shares during the period. Pallas Capital Advisors LLC boosted its position in 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 acquiring an additional 199 shares during the period. Venturi Wealth Management LLC boosted its position in Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after acquiring an additional 202 shares during the period. Truvestments Capital LLC boosted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.1 %

Shares of TAP stock opened at $58.93 on Friday. The stock’s 50 day simple moving average is $57.44 and its 200 day simple moving average is $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 has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.52 and a beta of 0.81.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given 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 3.19%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TAP shares. 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. Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $56.00 to $62.00 in a research report on Thursday, March 13th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, UBS Group raised their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.67.

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.