EverSource Wealth Advisors LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

EverSource Wealth Advisors LLC boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 101.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 973 shares of the company’s stock after acquiring an additional 489 shares during the period. EverSource Wealth Advisors LLC’s holdings in Molson Coors Beverage were worth $56,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of 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 period. Private Trust Co. NA raised its stake in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares during the period. True Wealth Design LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at $59,000. Finally, Lindbrook Capital LLC raised its stake in shares of Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.1 %

TAP stock opened at $58.30 on Thursday. The firm has a 50 day moving average of $57.37 and a 200 day moving average of $57.49. The stock has a market capitalization of $11.81 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. 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 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 EPS 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%. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.22%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $63.67.

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.