Sovereign Investment Advisors LLC Takes Position in Molson Coors Beverage (NYSE:TAP)

Sovereign Investment Advisors LLC bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,948 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds have also bought and sold shares of the company. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% during 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. Gladius Capital Management LP bought a new stake in Molson Coors Beverage during the third quarter worth about $42,000. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 1.6 %

TAP opened at $59.68 on Friday. 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 firm has a 50 day moving average price of $57.17 and a 200-day moving average price of $57.38. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.15%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

Analysts Set New Price Targets

Several research firms recently commented on TAP. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of 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, Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $56.00 to $62.00 in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $63.67.

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.