Alhambra Investment Management LLC Has $800,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Alhambra Investment Management LLC raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,950 shares of the company’s stock after purchasing an additional 1,001 shares during the period. Alhambra Investment Management LLC’s holdings in Molson Coors Beverage were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Molson Coors Beverage in the second quarter valued at approximately $163,000. Envestnet Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 51.7% during the second quarter. Envestnet Asset Management Inc. now owns 558,810 shares of the company’s stock valued at $28,404,000 after purchasing an additional 190,394 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after purchasing an additional 434,685 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Molson Coors Beverage by 22.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 127,016 shares of the company’s stock worth $6,450,000 after buying an additional 23,036 shares during the period. Finally, Amalgamated Bank increased its position in Molson Coors Beverage by 51.2% in the 2nd quarter. Amalgamated Bank now owns 58,030 shares of the company’s stock valued at $2,950,000 after acquiring an additional 19,654 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $55.33 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $11.40 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.96 and a beta of 0.86. The business’s 50 day moving average price is $59.10 and its 200-day moving average price is $55.89. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Needham & Company LLC began coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. UBS Group lowered their price objective on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.79.

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.