U.S. Capital Wealth Advisors LLC Acquires Shares of 18,947 Molson Coors Beverage (NYSE:TAP)

U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 18,947 shares of the company's stock, valued at approximately $1,160,000.

Several other hedge funds have also bought and sold shares of the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC purchased a new stake in Molson Coors Beverage during the third quarter valued at approximately $32,000. Allworth Financial LP raised its position in Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company's stock worth $38,000 after acquiring an additional 400 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Molson Coors Beverage during the 4th quarter worth $61,000. Finally, Signaturefd LLC grew its position in shares of Molson Coors Beverage by 30.2% during the 4th quarter. Signaturefd LLC now owns 1,193 shares of the company's stock valued at $73,000 after acquiring an additional 277 shares during the period. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TAP. Piper Sandler began coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a "neutral" rating and a $69.00 target price on the stock. Citigroup lowered their price objective on Molson Coors Beverage from $56.00 to $53.00 and set a "sell" rating on the stock in a research report on Wednesday, May 1st. UBS Group decreased their target price on shares of Molson Coors Beverage from $70.00 to $64.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 1st. Bank of America dropped their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $65.53.

Molson Coors Beverage Price Performance

TAP stock traded down $0.58 during trading on Monday, hitting $57.27. 2,342,253 shares of the company's stock traded hands, compared to its average volume of 1,770,959. The business has a fifty day simple moving average of $64.66 and a 200 day simple moving average of $62.36. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.09 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, research analysts expect that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.07%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage's payout ratio is presently 35.20%.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now directly owns 60,538 shares of the company's stock, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.71% of the company's stock.

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.