Raiffeisen Bank International AG Purchases New Holdings in Molson Coors Beverage (NYSE:TAP)

Raiffeisen Bank International AG purchased a new position in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,391 shares of the company's stock, valued at approximately $534,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TAP shares. Morgan Stanley lowered their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group cut their price target on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. 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. Finally, Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.71.

Molson Coors Beverage Stock Up 0.6%

Shares of NYSE TAP traded up $0.34 during midday trading on Tuesday, reaching $56.95. 2,616,772 shares of the company's stock traded hands, compared to its average volume of 2,119,263. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The stock's 50 day simple moving average is $58.52 and its 200-day simple moving average is $58.45. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 1.52 and a beta of 0.73. 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 (NYSE:TAP - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.30%. Molson Coors Beverage's payout ratio 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.