Brevan Howard Capital Management LP Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Brevan Howard Capital Management LP grew its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 189.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,108 shares of the company's stock after acquiring an additional 29,521 shares during the quarter. Brevan Howard Capital Management LP's holdings in Molson Coors Beverage were worth $2,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Quarry LP increased its position in shares of Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after acquiring an additional 254 shares during the period. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after acquiring an additional 203 shares during the period. Finally, Private Trust Co. NA grew its stake in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the topic of a number of recent research reports. Citigroup upgraded 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 report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Barclays reduced their price objective 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. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, UBS Group reduced their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $63.49.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.34 during trading on Friday, hitting $54.60. The company had a trading volume of 3,314,463 shares, compared to its average volume of 2,085,522. The firm has a market capitalization 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 stock has a fifty day simple moving average of $59.12 and a two-hundred day simple moving average of $58.41. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66.

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

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. 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 3.44%. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

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.