Parallel Advisors LLC Raises Holdings in Molson Coors Beverage (NYSE:TAP)

Parallel Advisors LLC increased its holdings in Molson Coors Beverage (NYSE:TAP) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,029 shares of the company’s stock after acquiring an additional 538 shares during the quarter. Parallel Advisors LLC’s holdings in Molson Coors Beverage were worth $403,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in shares of Molson Coors Beverage by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 39,687 shares of the company’s stock worth $2,283,000 after purchasing an additional 6,723 shares during the period. Caprock Group LLC lifted its holdings in Molson Coors Beverage by 7.7% during the third quarter. Caprock Group LLC now owns 8,652 shares of the company’s stock worth $498,000 after buying an additional 616 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Molson Coors Beverage during the third quarter worth $794,000. PNC Financial Services Group Inc. lifted its holdings in Molson Coors Beverage by 31.6% during the third quarter. PNC Financial Services Group Inc. now owns 29,493 shares of the company’s stock worth $1,696,000 after buying an additional 7,086 shares during the period. Finally, Commerce Bank purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $209,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.5 %

Shares of Molson Coors Beverage stock opened at $58.72 on Friday. 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 has a fifty day moving average price of $57.56 and a 200 day moving average price of $57.53. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $11.90 billion, a PE ratio of 10.98, a price-to-earnings-growth 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 analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates 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 predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared 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 is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, UBS Group increased their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.67.

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.