Burns Matteson Capital Management LLC Acquires New Shares in Molson Coors Beverage (NYSE:TAP)

Burns Matteson Capital Management LLC acquired a new position in Molson Coors Beverage (NYSE:TAP) in the fourth quarter, HoldingsChannel reports. The fund acquired 6,124 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Ashton Thomas Securities LLC purchased a new stake in shares of Molson Coors Beverage in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage in the third quarter worth approximately $42,000. True Wealth Design LLC purchased a new stake in Molson Coors Beverage during the third quarter worth $59,000. Allworth Financial LP boosted its position in Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $77,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $54.23 on Monday. The stock’s 50-day simple moving average is $57.05 and its 200-day simple moving average is $56.27. The firm has a market capitalization of $11.17 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

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

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.25%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is currently 39.64%.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. BNP Paribas began 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. JPMorgan Chase & Co. cut 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 report on Thursday, January 30th. Barclays decreased their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.36.

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.