DORCHESTER WEALTH MANAGEMENT Co Reduces Stock Holdings in Molson Coors Beverage (NYSE:TAP)

DORCHESTER WEALTH MANAGEMENT Co lowered its position in Molson Coors Beverage (NYSE:TAP) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,350 shares of the company’s stock after selling 550 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Molson Coors Beverage were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TAP. Creative Planning increased its position in shares of Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after buying an additional 2,418 shares in the last quarter. Blue Trust Inc. increased its position in shares of Molson Coors Beverage by 63.3% in the third quarter. Blue Trust Inc. now owns 2,951 shares of the company’s stock valued at $170,000 after buying an additional 1,144 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after buying an additional 277 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Molson Coors Beverage by 22.6% during the third quarter. Greenleaf Trust now owns 8,825 shares of the company’s stock valued at $508,000 after acquiring an additional 1,625 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Molson Coors Beverage by 1,711.8% during the third quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock valued at $3,157,000 after acquiring an additional 51,851 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $60.29 on Friday. The firm has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The business’s 50-day simple moving average is $56.41 and its 200-day simple moving average is $56.60.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 35.14%.

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.