Cwm LLC Acquires 1,260 Shares of Molson Coors Beverage (NYSE:TAP)

Cwm LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,501 shares of the company’s stock after acquiring an additional 1,260 shares during the quarter. Cwm LLC’s holdings in Molson Coors Beverage were worth $398,000 at the end of the most recent reporting period.

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

Molson Coors Beverage Price Performance

NYSE:TAP opened at $57.08 on Thursday. The firm’s fifty day moving average is $65.07 and its two-hundred day moving average is $62.40. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.19 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts expect that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s payout ratio is currently 40.37%.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. 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. Piper Sandler assumed 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 target on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a report on Wednesday. Finally, TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $65.87.

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.