Clark Capital Management Group Inc. Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

Clark Capital Management Group Inc. grew its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 492,334 shares of the company's stock after buying an additional 48,819 shares during the quarter. Clark Capital Management Group Inc. owned 0.24% of Molson Coors Beverage worth $28,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after purchasing an additional 9,510 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Molson Coors Beverage by 92.3% in the 4th quarter. Nordea Investment Management AB now owns 216,413 shares of the company's stock valued at $12,383,000 after purchasing an additional 103,883 shares in the last quarter. First Hawaiian Bank increased its stake in shares of Molson Coors Beverage by 2.0% in the 4th quarter. First Hawaiian Bank now owns 20,195 shares of the company's stock valued at $1,158,000 after purchasing an additional 394 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 valued at $2,046,000 after purchasing an additional 563 shares in the last quarter. Finally, Sage Capital Advisors llc increased its stake in shares of Molson Coors Beverage by 0.8% in the 4th quarter. Sage Capital Advisors llc now owns 150,077 shares of the company's stock valued at $8,602,000 after purchasing an additional 1,129 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group cut their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday. Berenberg Bank initiated coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley reduced their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday. Finally, StockNews.com raised Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $62.71.

Molson Coors Beverage Trading Up 0.6%

TAP stock traded up $0.33 during midday trading on Monday, hitting $54.96. 4,661,223 shares of the company's stock were exchanged, compared to its average volume of 2,097,706. The business has a 50-day simple moving average of $59.03 and a two-hundred day simple moving average of $58.43. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.14 billion, a PE ratio of 10.27, a P/E/G ratio of 1.52 and a beta of 0.73. 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 released its quarterly earnings results 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 in the prior year, the business earned $0.95 earnings per share. The company's quarterly revenue was down 11.3% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.42%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

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.