AQR Capital Management LLC Decreases Position in Molson Coors Beverage (NYSE:TAP)

AQR Capital Management LLC decreased its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,369,374 shares of the company's stock after selling 996,098 shares during the quarter. AQR Capital Management LLC owned 2.12% of Molson Coors Beverage worth $250,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after purchasing an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after purchasing an additional 563 shares during the period. US Bancorp DE grew its stake in shares of Molson Coors Beverage by 103.9% during the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares during the period. Unified Investment Management acquired a new stake in Molson Coors Beverage in the 4th quarter valued at $871,000. Finally, Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after acquiring an additional 8,679 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE:TAP traded down $0.32 during mid-day trading on Thursday, hitting $57.21. 1,701,328 shares of the stock traded hands, compared to its average volume of 2,061,644. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The company has a market cap of $11.59 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business's 50-day moving average price is $59.69 and its 200 day moving average price is $58.38.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.29%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is currently 35.14%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Berenberg Bank assumed coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $64.39.

About Molson Coors Beverage

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.