Estuary Capital Management LP Makes New $39.05 Million Investment in Molson Coors Beverage (NYSE:TAP)

Estuary Capital Management LP acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 681,300 shares of the company's stock, valued at approximately $39,052,000. Molson Coors Beverage makes up 11.4% of Estuary Capital Management LP's holdings, making the stock its 6th biggest position. Estuary Capital Management LP owned approximately 0.33% of Molson Coors Beverage as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock worth $12,183,000 after buying an additional 9,510 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Molson Coors Beverage by 92.3% in the 4th quarter. Nordea Investment Management AB now owns 216,413 shares of the company's stock valued at $12,383,000 after purchasing an additional 103,883 shares during the period. First Hawaiian Bank lifted its stake in shares of Molson Coors Beverage by 2.0% in the 4th quarter. First Hawaiian Bank now owns 20,195 shares of the company's stock valued at $1,158,000 after purchasing an additional 394 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after purchasing an additional 563 shares during the period. Finally, Sage Capital Advisors llc raised its position in Molson Coors Beverage by 0.8% during the fourth quarter. Sage Capital Advisors llc now owns 150,077 shares of the company's stock worth $8,602,000 after acquiring an additional 1,129 shares during the period. Institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. StockNews.com raised shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley lowered their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Tuesday, April 29th. Finally, UBS Group lowered their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $63.49.

Molson Coors Beverage Stock Performance

TAP traded up $0.34 during trading hours on Friday, hitting $54.60. 3,314,463 shares of the stock were exchanged, compared to its average volume of 2,087,411. The stock has a 50-day simple moving average of $59.12 and a 200-day simple moving average of $58.44. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. Analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is currently 37.83%.

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.