Molson Coors Beverage (NYSE:TAP) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 25.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,075 shares of the company’s stock after purchasing an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Molson Coors Beverage were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after purchasing an additional 489 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Barclays dropped their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, UBS Group raised their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.60.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $60.95 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock’s fifty day simple moving average is $58.22 and its 200-day simple moving average is $57.76. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 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.