Northern Trust Corp Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Northern Trust Corp boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,970,718 shares of the company's stock after buying an additional 221,539 shares during the quarter. Northern Trust Corp owned 0.96% of Molson Coors Beverage worth $112,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in shares of Molson Coors Beverage by 148.2% during the 3rd quarter. Virtu Financial LLC now owns 11,801 shares of the company's stock worth $679,000 after purchasing an additional 7,046 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Molson Coors Beverage during the 3rd quarter worth about $262,000. Tidal Investments LLC lifted its holdings in Molson Coors Beverage by 19.4% during the 3rd quarter. Tidal Investments LLC now owns 30,362 shares of the company's stock worth $1,746,000 after buying an additional 4,929 shares during the last quarter. Synovus Financial Corp acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth about $684,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after acquiring an additional 9,510 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded down $0.09 on Wednesday, reaching $56.81. 3,406,366 shares of the stock were exchanged, compared to its average volume of 2,061,050. The firm has a market capitalization of $11.51 billion, a PE ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The business has a fifty day moving average price of $59.44 and a two-hundred day moving average price of $58.44. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is presently 35.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TAP. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Tuesday, April 29th. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Finally, Barclays reduced 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. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $64.14.

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.