New Age Alpha Advisors LLC Makes New Investment in Molson Coors Beverage (NYSE:TAP)

New Age Alpha Advisors LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 53,832 shares of the company’s stock, valued at approximately $3,086,000.

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

Wall Street Analysts Forecast Growth

TAP has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Barclays reduced their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $63.60.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $60.52 on Friday. The firm has a market cap of $12.26 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The firm has a fifty day moving average of $58.11 and a two-hundred day moving average of $57.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

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

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

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.