Bank of Stockton Acquires 1,755 Shares of Molson Coors Beverage (NYSE:TAP)

Bank of Stockton boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 40.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,097 shares of the company’s stock after purchasing an additional 1,755 shares during the quarter. Bank of Stockton’s holdings in Molson Coors Beverage were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage during the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP bought a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Catalyst Capital Advisors LLC increased its stake in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares during the last quarter. True Wealth Design LLC bought a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP increased its stake in Molson Coors Beverage by 33.7% in the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after acquiring an additional 297 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Price Performance

TAP opened at $60.44 on Friday. The business has a fifty day moving average of $56.42 and a 200 day moving average of $56.52. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.45 billion, a P/E ratio of 11.30, a PEG ratio of 1.51 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 32.90%.

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.