Aquatic Capital Management LLC Makes New $756,000 Investment in Molson Coors Beverage (NYSE:TAP)

Aquatic Capital Management LLC purchased a new position in Molson Coors Beverage (NYSE:TAP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,196 shares of the company’s stock, valued at approximately $756,000.

Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. Private Trust Co. NA lifted its position in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $57.21 on Friday. 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 business’s 50 day moving average price is $59.69 and its two-hundred day moving average price is $58.38. The company has a market cap of $11.59 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share 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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. On average, analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.29%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TAP shares. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Tuesday. Berenberg Bank started coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a “buy” rating and a $86.90 price target for the company. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.14.

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.