Howard Capital Management Inc. Invests $297,000 in Molson Coors Beverage (NYSE:TAP)

Howard Capital Management Inc. bought a new position in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,180 shares of the company’s stock, valued at approximately $297,000.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage in the 3rd quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the third quarter valued at $42,000. Catalyst Capital Advisors LLC lifted its holdings in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the period. True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at $59,000. Finally, Allworth Financial LP lifted its holdings in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.7 %

Molson Coors Beverage stock opened at $60.75 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.51 billion, a PE ratio of 11.35, a P/E/G ratio of 1.52 and a beta of 0.85. The stock has a 50-day moving average price of $56.47 and a 200 day moving average price of $56.75. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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 the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.09%. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays lifted their price target on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Morgan Stanley lifted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Finally, UBS Group lifted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.27.

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.