Mork Capital Management LLC bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,300 shares of the company's stock, valued at approximately $992,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Randolph Co Inc lifted its holdings in shares of Molson Coors Beverage by 26.2% in the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after purchasing an additional 98,984 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after purchasing an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after purchasing an additional 563 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after purchasing an additional 9,825 shares during the last quarter. Finally, Unified Investment Management purchased a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $871,000. 78.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TAP has been the subject of several research reports. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays reduced their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday. UBS Group reduced their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Needham & Company LLC reduced their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $62.71.
Check Out Our Latest Report on Molson Coors Beverage
Molson Coors Beverage Stock Performance
NYSE TAP traded up $0.54 on Friday, hitting $56.81. 2,228,722 shares of the company's stock were exchanged, compared to its average volume of 2,112,497. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm's 50-day moving average price is $58.68 and its two-hundred day moving average price is $58.39. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.52 and a beta of 0.73.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The business's revenue for the quarter was down 11.3% on a year-over-year basis. On average, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.
Molson Coors Beverage Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is currently 37.83%.
About Molson Coors Beverage
(
Free Report)
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.
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