Keeley Teton Advisors LLC Buys 43,973 Shares of Molson Coors Beverage (NYSE:TAP)

Keeley Teton Advisors LLC increased its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 95.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,909 shares of the company's stock after acquiring an additional 43,973 shares during the quarter. Keeley Teton Advisors LLC's holdings in Molson Coors Beverage were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of TAP. Jump Financial LLC increased its stake in shares of Molson Coors Beverage by 55.0% in the fourth quarter. Jump Financial LLC now owns 7,958 shares of the company's stock worth $456,000 after buying an additional 2,824 shares during the period. Guggenheim Capital LLC increased its position in shares of Molson Coors Beverage by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 36,151 shares of the company's stock valued at $2,072,000 after acquiring an additional 4,656 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $116,000. Mariner LLC boosted its holdings in shares of Molson Coors Beverage by 22.3% during the fourth quarter. Mariner LLC now owns 33,449 shares of the company's stock worth $1,917,000 after purchasing an additional 6,095 shares during the period. Finally, Barclays PLC grew its stake in shares of Molson Coors Beverage by 1.8% in the fourth quarter. Barclays PLC now owns 528,469 shares of the company's stock worth $30,290,000 after purchasing an additional 9,389 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TAP shares. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Barclays decreased their target price on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on shares of 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, Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $64.39.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded up $0.01 during trading hours on Friday, reaching $58.72. The company had a trading volume of 1,549,253 shares, compared to its average volume of 2,086,235. The firm has a market cap of $11.90 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The business has a fifty day moving average price of $60.01 and a 200-day moving average price of $58.23. Molson Coors Beverage has a one year low of $49.19 and a one year high of $65.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is 35.14%.

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.