Callan Family Office LLC Invests $242,000 in Molson Coors Beverage (NYSE:TAP)

Callan Family Office LLC acquired a new position in Molson Coors Beverage (NYSE:TAP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,217 shares of the company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TAP. Clark Estates Inc. NY grew its position in Molson Coors Beverage by 18.1% during 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 last quarter. Wealth Enhancement Advisory Services LLC grew its position in Molson Coors Beverage by 1.6% during 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 last quarter. Unified Investment Management purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $871,000. Wilsey Asset Management Inc. grew its position in Molson Coors Beverage by 1.6% during 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 last quarter. Finally, Qsemble Capital Management LP grew its position in Molson Coors Beverage by 23.5% during 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 last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $60.35 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a fifty day moving average price of $57.01 and a 200 day moving average price of $57.29. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.23 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several research analyst reports. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. UBS Group upped their price objective 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, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.27.

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.