Molson Coors Beverage (NYSE:TAP) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,075 shares of the company’s stock after buying an additional 1,238 shares during the period. NEOS Investment Management LLC’s holdings in Molson Coors Beverage were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TAP. Truvestments Capital LLC increased its holdings in shares of 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 buying an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

TAP opened at $60.95 on Tuesday. The company has a market capitalization of $12.35 billion, a P/E ratio of 11.39, a PEG ratio of 1.52 and a beta of 0.81. The company has a 50-day moving average of $58.22 and a 200-day moving average of $57.76. 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 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.08%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Citigroup raised 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 report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.60.

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.