Measured Wealth Private Client Group LLC Purchases New Shares in Molson Coors Beverage (NYSE:TAP)

Measured Wealth Private Client Group LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,579 shares of the company’s stock, valued at approximately $770,000.

A number of other institutional investors have also made changes to their positions in TAP. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 7.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after buying an additional 2,279 shares during the last quarter. Xponance Inc. raised its holdings in shares of Molson Coors Beverage by 1.6% in the third quarter. Xponance Inc. now owns 26,896 shares of the company’s stock valued at $1,710,000 after buying an additional 416 shares during the last quarter. Dakota Wealth Management raised its holdings in shares of Molson Coors Beverage by 9.3% in the third quarter. Dakota Wealth Management now owns 3,412 shares of the company’s stock valued at $217,000 after buying an additional 290 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 11.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,673 shares of the company’s stock valued at $1,378,000 after buying an additional 2,271 shares during the last quarter. Finally, Forsta AP Fonden bought a new position in shares of Molson Coors Beverage in the third quarter valued at about $2,563,000. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Stock Up 0.1 %

NYSE TAP traded up $0.05 during trading hours on Friday, reaching $57.85. 2,054,717 shares of the company’s stock were exchanged, compared to its average volume of 2,096,558. The company’s 50-day moving average is $64.77 and its two-hundred day moving average is $62.32. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.69. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $0.54 EPS. Molson Coors Beverage’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TAP shares. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday. Evercore ISI lowered their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, UBS Group lowered their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.53.

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.