Royal Bank of Canada Acquires 132,782 Shares of Molson Coors Beverage (NYSE:TAP)

Royal Bank of Canada increased its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 103.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,204 shares of the company's stock after buying an additional 132,782 shares during the period. Royal Bank of Canada owned 0.13% of Molson Coors Beverage worth $14,972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TAP. 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 buying an additional 202 shares in the last quarter. CoreCap Advisors LLC lifted 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 worth $37,000 after buying an additional 643 shares in the last quarter. Quarry LP lifted its position in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after buying an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after buying an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $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.

Analysts Set New Price Targets

Several brokerages recently issued reports on TAP. UBS Group reduced their price target on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Needham & Company LLC cut their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and an average price target of $63.26.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the transaction, the director now owns 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Stock Performance

Shares of TAP traded up $0.71 during midday trading on Thursday, reaching $53.67. 2,623,415 shares of the stock were exchanged, compared to its average volume of 2,146,005. 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 market cap of $10.85 billion, a P/E ratio of 10.03, a PEG ratio of 1.52 and a beta of 0.73. The stock's 50 day simple moving average is $57.94 and its 200 day simple moving average is $58.32.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted 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 firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business posted $0.95 EPS. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. On average, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) 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.