Twin Capital Management Inc. Buys 320 Shares of Molson Coors Beverage (NYSE:TAP)

Twin Capital Management Inc. increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,480 shares of the company’s stock after purchasing an additional 320 shares during the quarter. Twin Capital Management Inc.’s holdings in Molson Coors Beverage were worth $397,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Molson Coors Beverage by 25.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock valued at $1,242,000 after acquiring an additional 4,792 shares during the last quarter. American Century Companies Inc. boosted its stake in Molson Coors Beverage by 17.1% in the first quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock valued at $985,000 after acquiring an additional 2,700 shares during the last quarter. US Bancorp DE boosted its stake in Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after acquiring an additional 1,203 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Molson Coors Beverage by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock worth $889,000 after purchasing an additional 720 shares during the period. Finally, Natixis Advisors L.P. raised its holdings in Molson Coors Beverage by 26.3% in the first quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock worth $769,000 after purchasing an additional 3,001 shares during the period. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TAP. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Piper Sandler began coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Barclays raised their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.73.

Molson Coors Beverage Stock Up 0.5 %

Molson Coors Beverage stock opened at $64.23 on Friday. The company has a market cap of $13.85 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The company has a fifty day simple moving average of $64.98 and a 200 day simple moving average of $62.23. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.71% of the company’s stock.

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.