Molson Coors Beverage (NYSE:TAP) Shares Acquired by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. raised its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 179.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,395 shares of the company’s stock after buying an additional 895 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Molson Coors Beverage were worth $85,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at $25,000. Stone House Investment Management LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter valued at $32,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Molson Coors Beverage by 85.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $33,000 after purchasing an additional 300 shares during the last quarter. Lazard Asset Management LLC boosted 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 worth $40,000 after purchasing an additional 373 shares during the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $44,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays increased their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. HSBC assumed coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They issued a “hold” rating and a $68.00 target price on the stock. Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.67.

Read Our Latest Research Report on TAP

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.41% of the company’s stock.

Molson Coors Beverage Stock Up 0.8 %

Shares of NYSE TAP opened at $67.67 on Tuesday. Molson Coors Beverage has a 1 year low of $50.98 and a 1 year high of $70.90. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The stock’s 50-day simple moving average is $63.32 and its 200-day simple moving average is $61.83.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s payout ratio is presently 40.37%.

Molson Coors Beverage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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