Hancock Whitney Corp Acquires 5,119 Shares of Molson Coors Beverage (NYSE:TAP)

Hancock Whitney Corp boosted its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,478 shares of the company's stock after acquiring an additional 5,119 shares during the period. Hancock Whitney Corp's holdings in Molson Coors Beverage were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC boosted its holdings in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after acquiring an additional 199 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after buying an additional 202 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of 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 acquiring an additional 203 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.6 %

TAP traded down $0.35 during trading hours on Thursday, hitting $57.18. 509,588 shares of the company's stock were exchanged, compared to its average volume of 2,060,176. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The stock's 50-day moving average is $59.77 and its two-hundred day moving average is $58.37. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.52 and a beta of 0.69. 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 results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.29%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Tuesday. Citigroup raised 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 note on Wednesday, February 5th. Finally, UBS Group increased their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eleven equities 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $64.39.

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.