Farther Finance Advisors LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Farther Finance Advisors LLC raised its position in Molson Coors Beverage (NYSE:TAP) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,394 shares of the company’s stock after acquiring an additional 674 shares during the quarter. Farther Finance Advisors LLC’s holdings in Molson Coors Beverage were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Bank of New York Mellon Corp increased its position in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after buying an additional 434,250 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Molson Coors Beverage by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after buying an additional 33,234 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at about $48,202,000. Finally, RWC Asset Management LLP increased its position in shares of Molson Coors Beverage by 17.8% during the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after buying an additional 113,091 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TAP. JPMorgan Chase & Co. reduced their price target on shares of 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. Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $56.00 to $62.00 in a research note on Thursday, March 13th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Trading Up 1.1 %

Shares of NYSE TAP opened at $58.93 on Friday. The firm’s 50 day moving average price is $57.44 and its 200-day moving average price is $57.50. The company has a market cap of $11.94 billion, a PE ratio of 11.02, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. 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 issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed 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 an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.19%. Molson Coors Beverage’s dividend payout ratio is 35.14%.

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.