Arete Wealth Advisors LLC Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Arete Wealth Advisors LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 41.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,524 shares of the company’s stock after acquiring an additional 4,819 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Molson Coors Beverage were worth $945,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TAP. Norges Bank purchased a new position in shares of Molson Coors Beverage in the 4th quarter valued at about $142,407,000. State Street Corp grew its position in Molson Coors Beverage by 8.4% during the third 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. Raymond James Financial Inc. purchased a new position in Molson Coors Beverage in the fourth quarter valued at about $27,660,000. Bank of New York Mellon Corp lifted its position in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the period. Finally, LBP AM SA boosted its stake in shares of Molson Coors Beverage by 1,553.3% during the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock worth $11,846,000 after acquiring an additional 194,164 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TAP shares. Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday. They issued a “buy” rating and a $86.90 price objective for the company. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Morgan Stanley increased their price objective on shares of 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. Barclays cut their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.06.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $61.19 on Friday. The company has a market cap of $12.40 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.52 and a beta of 0.81. The business has a fifty day simple moving average of $58.76 and a 200-day simple moving average of $57.91. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) 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.