Ethic Inc. Has $3.55 Million Stake in Molson Coors Beverage (NYSE:TAP)

Ethic Inc. grew its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,944 shares of the company's stock after purchasing an additional 9,023 shares during the period. Ethic Inc.'s holdings in Molson Coors Beverage were worth $3,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC boosted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares during the period. CoreCap Advisors LLC lifted its position in shares of Molson Coors Beverage by 10,716.7% in the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP boosted its holdings in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.6 %

Molson Coors Beverage stock opened at $54.60 on Friday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month 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 50 day moving average of $59.12 and a 200-day moving average of $58.42. The stock has a market capitalization of $11.06 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2.43 billion. During the same period last year, the company earned $0.95 EPS. The company's revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several research analyst reports. StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday. Berenberg Bank started coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. 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. Barclays dropped their price objective on 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $63.49.

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.

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