Baker Ellis Asset Management LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Baker Ellis Asset Management LLC raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 144,822 shares of the company’s stock after buying an additional 11,540 shares during the period. Molson Coors Beverage accounts for about 1.2% of Baker Ellis Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Baker Ellis Asset Management LLC’s holdings in Molson Coors Beverage were worth $8,301,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after acquiring an additional 182 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares in the last quarter. Perpetual Ltd increased its holdings in shares of Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after acquiring an additional 199 shares in the last quarter. Finally, Red Spruce Capital LLC increased its holdings in shares of Molson Coors Beverage by 1.0% during the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after acquiring an additional 273 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $61.79.

Molson Coors Beverage Trading Down 1.6 %

Molson Coors Beverage stock opened at $54.86 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock’s 50 day simple moving average is $58.69 and its two-hundred day simple moving average is $56.03. The firm has a market cap of $11.30 billion, a PE ratio of 12.36, a P/E/G ratio of 2.05 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s revenue was down 7.8% on a year-over-year basis. Analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.21%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

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.