Belpointe Asset Management LLC Invests $70,000 in Molson Coors Beverage (NYSE:TAP)

Belpointe Asset Management LLC bought a new position in Molson Coors Beverage (NYSE:TAP – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,350 shares of the company’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Beacon Capital Management LLC lifted its position in Molson Coors Beverage by 1,781.3% in the fourth quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares during the period. Red Tortoise LLC bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at $38,000. Lazard Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 96.4% during the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after acquiring an additional 373 shares during the period. Kistler Tiffany Companies LLC bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at $42,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Molson Coors Beverage by 166.4% in the third quarter. Jones Financial Companies Lllp now owns 1,761 shares of the company’s stock valued at $85,000 after buying an additional 1,100 shares during the last quarter. 76.24% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $62.61 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.49 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $13.54 billion, a PE ratio of -52.61, a P/E/G ratio of 3.39 and a beta of 0.83. Molson Coors Beverage has a 12 month low of $46.69 and a 12 month high of $66.67. The stock has a 50-day moving average price of $56.80 and a two-hundred day moving average price of $53.87.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. Molson Coors Beverage had a positive return on equity of 7.16% and a negative net margin of 1.97%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Molson Coors Beverage will post 4.32 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.62%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -137.81%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TAP. Barclays lifted their price target on Molson Coors Beverage from $52.00 to $62.00 in a report on Thursday, May 4th. Jefferies Financial Group boosted their target price on Molson Coors Beverage from $68.00 to $74.00 in a research note on Friday, May 12th. UBS Group boosted their target price on Molson Coors Beverage from $54.00 to $67.00 in a research note on Wednesday, May 3rd. Bank of America boosted their target price on Molson Coors Beverage from $52.00 to $54.00 in a research note on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. upgraded Molson Coors Beverage from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $59.00 to $64.00 in a research note on Wednesday, May 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.87.

Molson Coors Beverage Profile

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.