New Age Alpha Advisors LLC Invests $3.09 Million in Molson Coors Beverage (NYSE:TAP)

New Age Alpha Advisors LLC purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 53,832 shares of the company’s stock, valued at approximately $3,086,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock worth $1,047,000 after purchasing an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after acquiring an additional 563 shares during the period. US Bancorp DE raised its position in Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after acquiring an additional 9,825 shares in the last quarter. Unified Investment Management purchased a new position in Molson Coors Beverage in the fourth quarter worth $871,000. Finally, Wilsey Asset Management Inc. lifted its holdings in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after acquiring an additional 8,679 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TAP shares. UBS Group increased their price target 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. Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.60.

Molson Coors Beverage Trading Down 0.7 %

Molson Coors Beverage stock opened at $60.52 on Friday. The stock has a 50-day moving average price of $58.11 and a 200 day moving average price of $57.69. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market cap of $12.26 billion, a PE ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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, beating analysts’ consensus estimates 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 business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

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.