Wakefield Asset Management LLLP Has $1.56 Million Stake in Molson Coors Beverage (NYSE:TAP)

Wakefield Asset Management LLLP grew its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 342.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,488 shares of the company's stock after acquiring an additional 19,723 shares during the quarter. Wakefield Asset Management LLLP's holdings in Molson Coors Beverage were worth $1,560,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in Molson Coors Beverage by 19.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company's stock worth $726,000 after acquiring an additional 1,859 shares during the period. International Assets Investment Management LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth $145,000. SkyView Investment Advisors LLC boosted its position in Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company's stock worth $785,000 after acquiring an additional 408 shares during the period. Metis Global Partners LLC boosted its position in Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company's stock worth $712,000 after acquiring an additional 2,183 shares during the period. Finally, Savoir Faire Capital Management L.P. acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at $3,245,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.0 %

NYSE:TAP traded down $0.03 during trading hours on Friday, hitting $67.35. 1,222,170 shares of the company's stock traded hands, compared to its average volume of 1,607,351. The firm has a market cap of $14.53 billion, a P/E ratio of 15.45, a P/E/G ratio of 2.35 and a beta of 0.84. Molson Coors Beverage has a twelve month low of $51.90 and a twelve month high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The stock's fifty day moving average price is $64.19 and its two-hundred day moving average price is $62.05.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. Molson Coors Beverage's quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.44 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage's dividend payout ratio is presently 40.37%.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares of the company's stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TAP shares. Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a "neutral" rating and a $69.00 price objective for the company. Barclays upped their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, February 15th. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Finally, TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $67.67.

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.