Ieq Capital LLC Purchases 47,425 Shares of Molson Coors Beverage (NYSE:TAP)

Ieq Capital LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 236.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,451 shares of the company’s stock after purchasing an additional 47,425 shares during the quarter. Ieq Capital LLC’s holdings in Molson Coors Beverage were worth $3,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after purchasing an additional 202 shares in the last quarter. Finally, Red Spruce Capital LLC boosted its holdings in Molson Coors Beverage by 1.0% during the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after purchasing an additional 273 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $60.29 on Friday. The firm has a fifty day moving average of $56.41 and a two-hundred day moving average of $56.58. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.51 and a beta of 0.85. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 32.90%.

Analyst Ratings Changes

A number of research firms have weighed in on TAP. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Morgan Stanley boosted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.27.

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.