Keating Investment Counselors Inc. Acquires 1,855 Shares of Molson Coors Beverage (NYSE:TAP)

Keating Investment Counselors Inc. grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,207 shares of the company’s stock after buying an additional 1,855 shares during the period. Molson Coors Beverage makes up 1.3% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 19th largest holding. Keating Investment Counselors Inc.’s holdings in Molson Coors Beverage were worth $3,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TAP. Van ECK Associates Corp boosted its holdings in shares of Molson Coors Beverage by 3.7% during the 4th quarter. Van ECK Associates Corp now owns 9,064 shares of the company’s stock worth $555,000 after buying an additional 323 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Molson Coors Beverage by 33.8% during the 4th quarter. Apollon Wealth Management LLC now owns 5,585 shares of the company’s stock worth $342,000 after buying an additional 1,411 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,638,115 shares of the company’s stock worth $100,269,000 after buying an additional 25,575 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $31,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Molson Coors Beverage by 227.8% in the 4th quarter. Teacher Retirement System of Texas now owns 48,219 shares of the company’s stock worth $2,951,000 after purchasing an additional 33,508 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Down 0.1 %

TAP stock opened at $55.77 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.34 and a beta of 0.81. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a fifty day moving average of $52.87 and a 200-day moving average of $57.43.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. As a group, equities research analysts predict that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.16%. Molson Coors Beverage’s payout ratio is 35.20%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays increased their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. UBS Group increased their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup cut their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $60.53.

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.