9,626 Shares in Molson Coors Beverage (NYSE:TAP) Bought by LMR Partners LLP

LMR Partners LLP purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,626 shares of the company's stock, valued at approximately $552,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in shares of 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 during the period. CoreCap Advisors LLC lifted its holdings 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 purchasing an additional 643 shares during the last quarter. Quarry LP lifted its holdings 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 purchasing an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings 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 purchasing an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings 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 purchasing an additional 203 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP traded up $0.88 during midday trading on Tuesday, hitting $57.49. The company's stock had a trading volume of 424,500 shares, compared to its average volume of 2,110,966. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The company's fifty day simple moving average is $58.55 and its two-hundred day simple moving average is $58.46. 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 stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.27%. Molson Coors Beverage's payout ratio is 37.83%.

Analysts Set New Price Targets

Several analysts recently weighed in on TAP shares. Morgan Stanley dropped their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target for the company. UBS Group dropped their price target 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. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Barclays dropped their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.71.

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.