Kentucky Retirement Systems Grows Position in Molson Coors Beverage (NYSE:TAP)

Kentucky Retirement Systems raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,815 shares of the company’s stock after acquiring an additional 221 shares during the period. Kentucky Retirement Systems’ holdings in Molson Coors Beverage were worth $907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. Tennessee Valley Asset Management Partners purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $29,000. Stone House Investment Management LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at about $32,000. Montag A & Associates Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $31,000. Allworth Financial LP increased its position in shares of Molson Coors Beverage by 179.4% during the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Finally, Partnership Wealth Management LLC purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $43,000. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target 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. Evercore ISI reduced their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Stock Down 0.1 %

NYSE TAP opened at $55.16 on Wednesday. The company has a market capitalization of $11.69 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.99 and a beta of 0.86. The stock has a 50 day moving average price of $63.34 and a 200-day moving average price of $62.32. Molson Coors Beverage has a one year low of $54.94 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69.

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. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. As a group, equities analysts predict that Molson Coors Beverage will post 5.69 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.19%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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.