Molson Coors Beverage (NYSE:TAP) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 492.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,936 shares of the company's stock after buying an additional 29,035 shares during the period. Coldstream Capital Management Inc.'s holdings in Molson Coors Beverage were worth $2,003,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Truvestments Capital LLC boosted its holdings in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted 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 worth $42,000 after buying an additional 203 shares in the last quarter. Private Trust Co. NA lifted 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 worth $46,000 after buying an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.8 %

Molson Coors Beverage stock traded up $0.46 during trading hours on Wednesday, hitting $57.52. The stock had a trading volume of 2,425,474 shares, compared to its average volume of 2,066,201. The stock has a market capitalization of $11.65 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $59.77 and its 200-day moving average price is $58.37.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase 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 3.27%. Molson Coors Beverage's payout ratio is presently 35.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TAP. Needham & Company LLC restated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Tuesday. Barclays lowered their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Berenberg Bank initiated coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective on the stock. Morgan Stanley lifted their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.39.

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.