Scott & Selber Inc. Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Scott & Selber Inc. lifted its position in Molson Coors Beverage (NYSE:TAP) by 72.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,610 shares of the company’s stock after buying an additional 17,486 shares during the period. Scott & Selber Inc.’s holdings in Molson Coors Beverage were worth $2,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage in the third quarter valued at about $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the topic of several analyst reports. UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Barclays lifted their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $61.30 on Tuesday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.52 and a beta of 0.85. The firm has a fifty day moving average price of $56.64 and a 200 day moving average price of $56.94. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

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.