Tennessee Valley Asset Management Partners Makes New $29,000 Investment in Molson Coors Beverage (NYSE:TAP)

Tennessee Valley Asset Management Partners acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 472 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in Molson Coors Beverage by 9,466.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after buying an additional 2,121,211 shares during the period. AQR Capital Management LLC grew its position in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the period. Morgan Stanley grew its position in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after buying an additional 988,864 shares during the period. Deutsche Bank AG grew its position in Molson Coors Beverage by 57.4% during the third quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock valued at $78,446,000 after buying an additional 449,971 shares during the period. Finally, Truist Financial Corp grew its position in Molson Coors Beverage by 9,869.6% during the third quarter. Truist Financial Corp now owns 396,589 shares of the company’s stock valued at $25,219,000 after buying an additional 392,611 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly 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 can be accessed through this hyperlink. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

Shares of TAP opened at $63.70 on Thursday. The firm’s 50 day simple moving average is $65.08 and its 200 day simple moving average is $62.30. The company has a market capitalization of $13.54 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.23 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced 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. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Sell-side analysts forecast that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.44 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TAP shares. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays upped their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Citigroup downgraded shares of Molson Coors Beverage from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $66.00 to $56.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.07.

Molson Coors Beverage Company 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.