Edgestream Partners L.P. Invests $1.34 Million in Molson Coors Beverage (NYSE:TAP)

Edgestream Partners L.P. purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,359 shares of the company’s stock, valued at approximately $1,339,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $62.97 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock’s 50 day moving average is $56.83 and its 200-day moving average is $57.17. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.52 and a beta of 0.81.

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 analysts’ consensus estimates 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 company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change 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 presently 35.14%.

Analysts Set New Price Targets

TAP has been the topic of several analyst reports. Morgan Stanley upped their target price on 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 cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Citigroup upgraded 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. Finally, JPMorgan Chase & Co. reduced 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. 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. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $63.27.

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.