Mather Group LLC. Raises Position in Molson Coors Beverage (NYSE:TAP)

Mather Group LLC. grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,116 shares of the company’s stock after buying an additional 718 shares during the quarter. Mather Group LLC.’s holdings in Molson Coors Beverage were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its stake in shares of Molson Coors Beverage by 6.5% in the second quarter. Creative Planning now owns 16,472 shares of the company’s stock worth $837,000 after acquiring an additional 1,003 shares during the period. Czech National Bank boosted its holdings in Molson Coors Beverage by 3.3% in the third quarter. Czech National Bank now owns 35,790 shares of the company’s stock worth $2,059,000 after purchasing an additional 1,139 shares during the last quarter. GAMMA Investing LLC grew its position in Molson Coors Beverage by 75.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,293 shares of the company’s stock worth $189,000 after purchasing an additional 1,415 shares during the period. CWM LLC raised its stake in Molson Coors Beverage by 201.2% during the 3rd quarter. CWM LLC now owns 33,723 shares of the company’s stock valued at $1,940,000 after buying an additional 22,525 shares during the last quarter. Finally, Perpetual Ltd raised its stake in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 1.8 %

TAP stock opened at $54.27 on Friday. The firm has a fifty day moving average price of $57.21 and a 200 day moving average price of $56.22. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market cap of $11.18 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business earned $1.92 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid 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 3.24%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Wall Street Analyst Weigh In

TAP has been the subject of several research analyst reports. Barclays cut their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.36.

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.