Bank Julius Baer & Co. Ltd Zurich Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

Bank Julius Baer & Co. Ltd Zurich boosted its position in Molson Coors Beverage (NYSE:TAP) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,956 shares of the company’s stock after acquiring an additional 10,923 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.07% of Molson Coors Beverage worth $8,790,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares during the period. Pallas Capital Advisors LLC increased its holdings in Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 4.2 %

Shares of TAP stock opened at $61.91 on Friday. The firm has a market cap of $12.54 billion, a P/E ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. 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 firm’s 50-day simple moving average is $56.83 and its 200-day simple moving average is $57.15.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TAP shares. 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 target for the company. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.27.

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.