Venturi Wealth Management LLC Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Venturi Wealth Management LLC boosted its stake in Molson Coors Beverage (NYSE:TAP) by 7.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,935 shares of the company’s stock after buying an additional 202 shares during the quarter. Venturi Wealth Management LLC’s holdings in Molson Coors Beverage were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage in the third quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in Molson Coors Beverage in the third quarter valued at $42,000. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the last quarter. True Wealth Design LLC purchased a new stake in Molson Coors Beverage in the third quarter valued at $59,000. Finally, Allworth Financial LP lifted its position in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the subject of a number of research reports. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Trading Down 0.2 %

Shares of Molson Coors Beverage stock 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 quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $56.41 and its 200-day simple moving average is $56.58. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping 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 company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a positive change 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 is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 32.90%.

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.