Schechter Investment Advisors LLC Takes $203,000 Position in Molson Coors Beverage (NYSE:TAP)

Schechter Investment Advisors LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,544 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage in the third quarter valued at $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the third quarter valued at $42,000. Catalyst Capital Advisors LLC increased its position in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. increased its position 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 valued at $42,000 after buying an additional 203 shares in the last quarter. Finally, Private Trust Co. NA increased its position in shares of Molson Coors Beverage by 53.1% in 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 in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.2 %

Shares of NYSE TAP opened at $59.42 on Friday. The stock has a market capitalization of $12.04 billion, a PE ratio of 11.11, a P/E/G ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $56.72 and a 200-day moving average of $57.05. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for 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%. On average, analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analysts Set New Price Targets

TAP has been the subject of a number of research analyst reports. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.27.

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.