Ariel Investments LLC Decreases Position in Molson Coors Beverage (NYSE:TAP)

Ariel Investments LLC lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 497,984 shares of the company's stock after selling 28,743 shares during the period. Ariel Investments LLC owned about 0.24% of Molson Coors Beverage worth $28,544,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meiji Yasuda Life Insurance Co purchased a new position in Molson Coors Beverage in the fourth quarter worth $378,000. DoubleLine ETF Adviser LP boosted its holdings in Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after buying an additional 170 shares during the period. Freestone Grove Partners LP purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $29,913,000. Randolph Co Inc raised its stake in shares of Molson Coors Beverage by 26.2% during the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after acquiring an additional 98,984 shares in the last quarter. Finally, AdvisorShares Investments LLC boosted its holdings in Molson Coors Beverage by 195.0% during the 4th quarter. AdvisorShares Investments LLC now owns 13,798 shares of the company's stock valued at $791,000 after acquiring an additional 9,120 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.57 during midday trading on Tuesday, hitting $56.87. The company had a trading volume of 2,051,220 shares, compared to its average volume of 2,055,668. The business's 50-day simple moving average is $59.44 and its 200-day simple moving average is $58.44. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 10.63, 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 has a twelve month low of $49.19 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, research analysts predict 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. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is presently 35.14%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Tuesday, April 29th. UBS Group boosted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Berenberg Bank began coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $64.14.

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.