Molson Coors Beverage (NYSE:TAP) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,753,491 shares of the company's stock after buying an additional 422,515 shares during the period. Dimensional Fund Advisors LP owned about 1.82% of Molson Coors Beverage worth $215,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in Molson Coors Beverage by 148.2% in the third quarter. Virtu Financial LLC now owns 11,801 shares of the company's stock worth $679,000 after purchasing an additional 7,046 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Molson Coors Beverage by 4.0% during the third quarter. SkyView Investment Advisors LLC now owns 15,700 shares of the company's stock worth $903,000 after acquiring an additional 598 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Molson Coors Beverage during the third quarter valued at about $3,153,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $262,000. Finally, Tidal Investments LLC boosted its stake in Molson Coors Beverage by 19.4% in the 3rd quarter. Tidal Investments LLC now owns 30,362 shares of the company's stock worth $1,746,000 after purchasing an additional 4,929 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock traded up $0.03 during mid-day trading on Monday, hitting $56.83. 230,746 shares of the stock were exchanged, compared to its average volume of 2,078,575. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.51 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The firm has a fifty day moving average of $59.96 and a 200 day moving average of $58.37.

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

Molson Coors Beverage Increases Dividend

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

TAP has been the subject of a number of research analyst reports. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Monday, April 14th. Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Barclays cut their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $64.39.

Molson Coors Beverage 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.