Roxbury Financial LLC Takes $251,000 Position in Molson Coors Beverage (NYSE:TAP)

Roxbury Financial LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,042 shares of the company’s stock, valued at approximately $251,000.

A number of other large investors also recently made changes to their positions in TAP. State Street Corp raised its stake in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares during the period. River Road Asset Management LLC raised its stake in Molson Coors Beverage by 1.8% during the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after buying an additional 29,315 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter worth $48,202,000. FMR LLC raised its stake in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after buying an additional 134,689 shares during the period. Finally, Private Management Group Inc. raised its stake in Molson Coors Beverage by 5.5% during the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock worth $32,081,000 after buying an additional 29,294 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Barclays dropped their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $62.73.

Molson Coors Beverage Trading Up 3.0 %

Shares of TAP stock opened at $60.33 on Friday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a 50-day simple moving average of $56.50 and a two-hundred day simple moving average of $56.31. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.12%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

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.