Sound Income Strategies LLC Has $5.46 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Sound Income Strategies LLC boosted its position in Molson Coors Beverage (NYSE:TAP) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,292 shares of the company’s stock after buying an additional 12,000 shares during the quarter. Sound Income Strategies LLC’s holdings in Molson Coors Beverage were worth $5,462,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage during the third quarter valued at about $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth about $42,000. True Wealth Design LLC bought a new stake in Molson Coors Beverage during the 3rd quarter valued at approximately $59,000. Quarry LP acquired a new stake in shares of Molson Coors Beverage in the second quarter worth $54,000. Finally, Allworth Financial LP grew its position in Molson Coors Beverage by 33.7% in the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TAP. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Needham & Company LLC started coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group decreased their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $61.79.

Molson Coors Beverage Trading Down 1.5 %

NYSE:TAP opened at $54.03 on Friday. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.04 and a beta of 0.86. The business’s 50-day moving average price is $58.52 and its two-hundred day moving average price is $56.01. The company has a current ratio of 0.99, a quick ratio of 0.74 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.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 earnings per share. On average, equities analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.26%. Molson Coors Beverage’s payout ratio is 39.64%.

Molson Coors Beverage Company 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.