Woodline Partners LP Takes Position in Molson Coors Beverage (NYSE:TAP)

Woodline Partners LP acquired a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,490 shares of the company's stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its holdings in Molson Coors Beverage by 5.0% in the 4th quarter. Fifth Third Bancorp now owns 8,875 shares of the company's stock valued at $509,000 after buying an additional 419 shares during the period. Blue Trust Inc. grew its holdings in Molson Coors Beverage by 33.0% in the 4th quarter. Blue Trust Inc. now owns 3,926 shares of the company's stock valued at $226,000 after buying an additional 975 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Molson Coors Beverage by 0.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 287,159 shares of the company's stock valued at $16,460,000 after buying an additional 1,823 shares during the period. Mediolanum International Funds Ltd grew its holdings in Molson Coors Beverage by 55.3% in the 4th quarter. Mediolanum International Funds Ltd now owns 16,257 shares of the company's stock valued at $922,000 after buying an additional 5,791 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in Molson Coors Beverage in the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on 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 approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.71% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. UBS Group decreased their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Barclays decreased their target price on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $63.26.

Molson Coors Beverage Stock Up 1.3%

Shares of TAP traded up $0.71 during trading on Thursday, reaching $53.67. The company's stock had a trading volume of 2,623,415 shares, compared to its average volume of 2,146,005. 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 price-to-earnings ratio of 10.03, a P/E/G ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66. The company has a fifty day moving average of $57.94 and a two-hundred day moving average of $58.32.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Molson Coors Beverage's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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