Fairfax Financial Holdings Ltd. Can Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Fairfax Financial Holdings Ltd. Can purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,186,500 shares of the company's stock, valued at approximately $68,010,000. Molson Coors Beverage makes up 4.4% of Fairfax Financial Holdings Ltd. Can's investment portfolio, making the stock its 8th largest holding. Fairfax Financial Holdings Ltd. Can owned about 0.58% of Molson Coors Beverage as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clark Capital Management Group Inc. lifted its holdings in Molson Coors Beverage by 11.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 492,334 shares of the company's stock valued at $28,221,000 after acquiring an additional 48,819 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Molson Coors Beverage by 10,716.7% during 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. BOKF NA boosted its position in shares of Molson Coors Beverage by 5.4% during the fourth quarter. BOKF NA now owns 33,734 shares of the company's stock worth $1,769,000 after buying an additional 1,741 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of Molson Coors Beverage by 189.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 45,108 shares of the company's stock worth $2,586,000 after buying an additional 29,521 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Molson Coors Beverage by 5.9% during the fourth quarter. Baird Financial Group Inc. now owns 35,375 shares of the company's stock worth $2,028,000 after buying an additional 1,978 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TAP. Barclays lowered their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.49.

Molson Coors Beverage Price Performance

NYSE:TAP traded up $0.34 during trading hours on Friday, reaching $54.60. 3,314,463 shares of the company's stock were exchanged, compared to its average volume of 2,087,411. The company has a market capitalization of $11.06 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 12 month low of $49.19 and a 12 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 business's 50-day simple moving average is $59.12 and its two-hundred day simple moving average is $58.44.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company's quarterly revenue was down 11.3% on a year-over-year basis. Sell-side analysts expect 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. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.44%. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

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.