CHICAGO TRUST Co NA Grows Position in Molson Coors Beverage (NYSE:TAP)

CHICAGO TRUST Co NA grew its stake in Molson Coors Beverage (NYSE:TAP) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,947 shares of the company’s stock after purchasing an additional 615 shares during the period. CHICAGO TRUST Co NA’s holdings in Molson Coors Beverage were worth $201,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TAP. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $29,000. Montag A & Associates Inc. purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $31,000. Raleigh Capital Management Inc. raised its stake in shares of Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $36,000. Finally, Allworth Financial LP raised its stake in shares of Molson Coors Beverage by 179.4% during the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.2 %

TAP stock traded up $0.12 during mid-day trading on Friday, reaching $52.98. The company had a trading volume of 1,474,603 shares, compared to its average volume of 1,965,625. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. The firm has a fifty day simple moving average of $51.76 and a 200 day simple moving average of $58.56. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. Analysts forecast that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.32%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TAP shares. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. UBS Group upped their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday. Jefferies Financial Group reduced their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Finally, Barclays upped their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $60.53.

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.