Pathway Financial Advisers LLC Purchases 320 Shares of Molson Coors Beverage (NYSE:TAP)

Pathway Financial Advisers LLC boosted its position in Molson Coors Beverage (NYSE:TAP) by 20.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,895 shares of the company’s stock after acquiring an additional 320 shares during the period. Pathway Financial Advisers LLC’s holdings in Molson Coors Beverage were worth $109,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management purchased a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $223,000. Creative Planning boosted its holdings in Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after acquiring an additional 2,418 shares in the last quarter. Vontobel Holding Ltd. increased its position in Molson Coors Beverage by 16.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock valued at $7,177,000 after purchasing an additional 17,285 shares during the period. Inlet Private Wealth LLC increased its position in Molson Coors Beverage by 4.7% during the 3rd quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock valued at $2,748,000 after purchasing an additional 2,150 shares during the period. Finally, Randolph Co Inc bought a new position in Molson Coors Beverage in the 3rd quarter worth $21,754,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TAP shares. UBS Group cut their target price on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.36.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $58.52 on Friday. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 has a one year low of $49.19 and a one year high of $69.18. The company’s 50-day moving average is $56.52 and its 200 day moving average is $56.26.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Sell-side analysts expect that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.