Twin Capital Management Inc. Has $397,000 Position in Molson Coors Beverage (NYSE:TAP)

Twin Capital Management Inc. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,480 shares of the company’s stock after acquiring an additional 320 shares during the period. Twin Capital Management Inc.’s holdings in Molson Coors Beverage were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Belpointe Asset Management LLC lifted its position in shares of Molson Coors Beverage by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock valued at $79,000 after acquiring an additional 171 shares during the period. IMPACTfolio LLC raised its holdings in Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Syntax Advisors LLC raised its holdings in Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after buying an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Molson Coors Beverage by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after buying an additional 196 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Molson Coors Beverage by 4.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock worth $317,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP opened at $64.23 on Friday. The firm has a market cap of $13.85 billion, a P/E ratio of 14.73, a PEG ratio of 2.21 and a beta of 0.84. The firm has a 50-day moving average of $64.98 and a 200 day moving average of $62.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 earnings per share. On average, research analysts expect that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.74%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

TAP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays upped their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Citigroup increased their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.73.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.71% of the company’s stock.

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.