Cerity Partners LLC Acquires 12,989 Shares of Molson Coors Beverage (NYSE:TAP)

Cerity Partners LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 34.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 50,665 shares of the company’s stock after purchasing an additional 12,989 shares during the period. Cerity Partners LLC’s holdings in Molson Coors Beverage were worth $3,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC grew its holdings in Molson Coors Beverage by 19.5% during the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after buying an additional 1,859 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Molson Coors Beverage by 6,418.1% during the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after purchasing an additional 149,093 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after purchasing an additional 408 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Molson Coors Beverage by 24.2% during the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. purchased a new stake in Molson Coors Beverage in the 3rd quarter valued at about $3,245,000. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Citigroup upped their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Barclays lifted their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $68.73.

Molson Coors Beverage Trading Up 0.4 %

NYSE TAP opened at $63.54 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $64.82 and its two-hundred day simple moving average is $62.21. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.26 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.77%. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling

In other 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 owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.71% of the stock is owned by corporate insiders.

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.