Knights of Columbus Asset Advisors LLC Buys 13,604 Shares of Molson Coors Beverage (NYSE:TAP)

Knights of Columbus Asset Advisors LLC grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,450 shares of the company’s stock after buying an additional 13,604 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Molson Coors Beverage were worth $5,108,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Molson Coors Beverage by 25.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,792 shares during the last quarter. American Century Companies Inc. lifted its position in Molson Coors Beverage by 17.1% in the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock worth $985,000 after buying an additional 2,700 shares during the last quarter. US Bancorp DE boosted its stake in Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company’s stock worth $205,000 after buying an additional 1,203 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Molson Coors Beverage by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock valued at $889,000 after acquiring an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of Molson Coors Beverage by 26.3% during the first quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock worth $769,000 after acquiring an additional 3,001 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TAP shares. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Citigroup lifted their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays increased their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.73.

Molson Coors Beverage Trading Up 0.5 %

NYSE:TAP opened at $64.23 on Friday. The company has a 50-day moving average price of $64.98 and a 200-day moving average price of $62.23. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 EPS. Equities analysts predict that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.74%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is 40.37%.

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.