BI Asset Management Fondsmaeglerselskab A S Boosts Position in Molson Coors Beverage (NYSE:TAP)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 107.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,468 shares of the company's stock after purchasing an additional 17,821 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Molson Coors Beverage were worth $1,976,000 as of its most recent filing with the Securities & Exchange Commission.

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

Molson Coors Beverage Stock Down 2.6 %

Shares of TAP traded down $1.53 during midday trading on Friday, hitting $56.82. The company had a trading volume of 2,273,058 shares, compared to its average volume of 2,085,901. The company's 50-day simple moving average is $59.96 and its 200-day simple moving average is $58.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market capitalization of $11.51 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $64.66.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost 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 Analysts Forecast Growth

TAP has been the subject of a number of recent research reports. Barclays cut their target price on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. 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 price objective for the company. Finally, Morgan Stanley raised their price objective 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. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.