Global Retirement Partners LLC Has $368,000 Position in Molson Coors Beverage (NYSE:TAP)

Global Retirement Partners LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,821 shares of the company’s stock after buying an additional 424 shares during the quarter. Global Retirement Partners LLC’s holdings in Molson Coors Beverage were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TAP. Quarry LP acquired a new position in shares of Molson Coors Beverage during the 2nd quarter worth about $25,000. Salem Investment Counselors Inc. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $32,000. Stone House Investment Management LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $32,000. Steward Partners Investment Advisory LLC grew its position in shares of Molson Coors Beverage by 85.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Molson Coors Beverage by 96.4% in the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after purchasing an additional 373 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 1.3 %

Shares of Molson Coors Beverage stock opened at $68.19 on Wednesday. Molson Coors Beverage has a 12-month low of $51.45 and a 12-month high of $70.90. The stock has a market cap of $14.71 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.35 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $63.87 and its 200-day moving average is $61.98.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its quarterly earnings data 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 company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Barclays boosted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.67.

View Our Latest Report on TAP

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred on 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 owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.41% of the company’s stock.

About Molson Coors Beverage

(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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