Sowell Financial Services LLC Has $824,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Sowell Financial Services LLC increased its position in Molson Coors Beverage (NYSE:TAP) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,377 shares of the company’s stock after acquiring an additional 1,419 shares during the quarter. Sowell Financial Services LLC’s holdings in Molson Coors Beverage were worth $824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage during the third quarter valued at $42,000. Catalyst Capital Advisors LLC lifted its holdings 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 purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP stock opened at $62.97 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company’s 50-day moving average is $56.83 and its 200-day moving average is $57.17. The stock has a market capitalization of $12.76 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. 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 announced its quarterly earnings results 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.99%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average target price 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.