13,196 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,196 shares of the company's stock, valued at approximately $756,000.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after purchasing an additional 54,867 shares in the last quarter. Invesco Ltd. boosted its holdings in Molson Coors Beverage by 4.2% in the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock valued at $217,200,000 after purchasing an additional 152,622 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after purchasing an additional 422,515 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after buying an additional 434,250 shares during the last quarter. Finally, Norges Bank bought a new stake in Molson Coors Beverage in the 4th quarter valued at about $142,407,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded down $0.51 during mid-day trading on Tuesday, hitting $56.93. 1,119,442 shares of the stock were exchanged, compared to its average volume of 2,053,360. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 1.52 and a beta of 0.69. The stock's fifty day simple moving average is $59.54 and its two-hundred day simple moving average is $58.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Increases Dividend

The company also recently announced 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. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.30%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analyst Weigh In

Several research analysts have commented on TAP shares. Barclays decreased their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target for the company. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.14.

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.