Mariner LLC increased its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 22.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,449 shares of the company's stock after buying an additional 6,095 shares during the quarter. Mariner LLC's holdings in Molson Coors Beverage were worth $1,917,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC grew its holdings 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 worth $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares in the last quarter. Private Trust Co. NA raised its position in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after acquiring an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after acquiring an additional 489 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.
Molson Coors Beverage Stock Performance
Molson Coors Beverage stock traded up $0.10 during midday trading on Tuesday, reaching $56.80. 223,320 shares of the stock traded hands, compared to its average volume of 2,242,056. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $59.89 and a two-hundred day moving average price of $58.38. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.31%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is currently 35.14%.
Analyst Upgrades and Downgrades
Several research firms recently commented on TAP. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. UBS Group boosted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $64.39.
Get Our Latest Research Report on Molson Coors Beverage
Molson Coors Beverage Profile
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Free Report)
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.
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