NewSquare Capital LLC Buys 915 Shares of Molson Coors Beverage (NYSE:TAP)

NewSquare Capital LLC raised its position in Molson Coors Beverage (NYSE:TAP) by 8.0% in the 4th quarter, HoldingsChannel reports. The fund owned 12,385 shares of the company’s stock after purchasing an additional 915 shares during the period. NewSquare Capital LLC’s holdings in Molson Coors Beverage were worth $758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TAP. CWM LLC lifted its holdings in shares of Molson Coors Beverage by 51.8% during the third quarter. CWM LLC now owns 5,241 shares of the company’s stock valued at $333,000 after acquiring an additional 1,788 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Molson Coors Beverage by 118.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 835 shares of the company’s stock valued at $55,000 after purchasing an additional 452 shares during the last quarter. Global Retirement Partners LLC boosted its position in Molson Coors Beverage by 24.4% in the third quarter. Global Retirement Partners LLC now owns 5,397 shares of the company’s stock valued at $340,000 after buying an additional 1,057 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Molson Coors Beverage by 60.8% during the third quarter. Flagship Harbor Advisors LLC now owns 8,727 shares of the company’s stock worth $555,000 after buying an additional 3,299 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Molson Coors Beverage by 19.7% during the third quarter. Caprock Group LLC now owns 7,579 shares of the company’s stock worth $482,000 after buying an additional 1,245 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The stock was 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 directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded down $0.16 during trading hours on Wednesday, reaching $64.02. 1,281,471 shares of the stock were exchanged, compared to its average volume of 1,659,605. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 2.23 and a beta of 0.84. The stock’s fifty day simple moving average is $65.02 and its 200 day simple moving average is $62.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90.

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

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Citigroup cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $66.00 to $56.00 in a report on Wednesday. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.07.

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.