abrdn plc Buys 84,856 Shares of Molson Coors Beverage (NYSE:TAP)

abrdn plc raised its stake in Molson Coors Beverage (NYSE:TAP) by 13.0% during the 4th quarter, Holdings Channel reports. The fund owned 735,184 shares of the company’s stock after acquiring an additional 84,856 shares during the period. abrdn plc’s holdings in Molson Coors Beverage were worth $45,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Quarry LP bought a new position in Molson Coors Beverage in the 2nd quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage during the fourth quarter worth approximately $29,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage during the third quarter worth approximately $32,000. Allworth Financial LP increased its holdings in shares of Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after purchasing an additional 400 shares during the period. Finally, Steward Partners Investment Advisory LLC increased 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 period. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TAP. Citigroup raised their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Piper Sandler started coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $68.73.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $64.23 on Monday. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company’s 50 day simple moving average is $64.98 and its 200 day simple moving average is $62.23.

Molson Coors Beverage (NYSE:TAP) last issued 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 firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

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

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.71% of the company’s stock.

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.