Loudon Investment Management LLC Has $671,000 Holdings in Molson Coors Beverage (NYSE:TAP)

Loudon Investment Management LLC lifted its position in shares of Molson Coors Beverage (NYSE:TAP) by 51.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,700 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Loudon Investment Management LLC’s holdings in Molson Coors Beverage were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after purchasing an additional 434,250 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after purchasing an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Molson Coors Beverage by 5.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock worth $50,472,000 after purchasing an additional 42,530 shares in the last quarter. Finally, RWC Asset Management LLP boosted its stake in Molson Coors Beverage by 17.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TAP. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Barclays raised Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $63.67.

Molson Coors Beverage Trading Up 1.1 %

TAP stock opened at $58.93 on Friday. The company has a market cap of $11.94 billion, a P/E ratio of 11.02, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $57.44 and a 200-day moving average of $57.50.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is presently 35.14%.

About Molson Coors Beverage

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.