Lindbrook Capital LLC Acquires 218 Shares of Molson Coors Beverage (NYSE:TAP)

Lindbrook Capital LLC lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,247 shares of the company’s stock after acquiring an additional 218 shares during the period. Lindbrook Capital LLC’s holdings in Molson Coors Beverage were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of recent research reports. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley upped their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, Barclays upped their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Trading Up 4.2 %

Shares of NYSE TAP opened at $61.91 on Friday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The business’s 50 day moving average price is $56.83 and its 200-day moving average price is $57.15. 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 announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share 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 paid a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is 35.14%.

Molson Coors Beverage Company 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.