Molson Coors Beverage (NYSE:TAP) Shares Bought by MMA Asset Management LLC

MMA Asset Management LLC grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 38.2% during the fourth quarter, HoldingsChannel reports. The firm owned 8,333 shares of the company’s stock after buying an additional 2,304 shares during the period. MMA Asset Management LLC’s holdings in Molson Coors Beverage were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after acquiring an additional 182 shares in the last quarter. Integrated Investment Consultants LLC lifted its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after acquiring an additional 185 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after acquiring an additional 202 shares in the last quarter. Finally, Red Spruce Capital LLC lifted its stake in shares of Molson Coors Beverage by 1.0% in the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock worth $1,548,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, BNP Paribas started coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Stock Down 0.5 %

NYSE:TAP opened at $61.25 on Friday. The firm has a market capitalization of $12.45 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The stock has a 50 day moving average of $56.64 and a 200-day moving average of $56.91. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. 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 earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.71 billion. Analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio 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.