International Assets Investment Management LLC Buys 149,093 Shares of Molson Coors Beverage (NYSE:TAP)

International Assets Investment Management LLC boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 6,418.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,416 shares of the company’s stock after buying an additional 149,093 shares during the period. International Assets Investment Management LLC owned approximately 0.07% of Molson Coors Beverage worth $9,268,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Molson Coors Beverage by 7.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after acquiring an additional 2,279 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake 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 worth $1,378,000 after purchasing an additional 2,271 shares during the last quarter. Forsta AP Fonden purchased a new position in shares of Molson Coors Beverage in the third quarter worth $2,563,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Molson Coors Beverage by 26.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 295,273 shares of the company’s stock valued at $18,776,000 after purchasing an additional 61,468 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Molson Coors Beverage by 2.2% during the third quarter. Mackenzie Financial Corp now owns 22,933 shares of the company’s stock valued at $1,422,000 after buying an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TAP. Evercore ISI lowered their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Citigroup cut their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research report on Wednesday, May 1st. Barclays lowered their price target on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $65.53.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business’s 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $57.27 on Tuesday. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.09 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The business has a 50 day simple moving average of $64.66 and a 200-day simple moving average of $62.36. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly 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 company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $0.54 earnings per share. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared 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. This represents a $1.76 annualized dividend and a yield of 3.07%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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.