DekaBank Deutsche Girozentrale Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

DekaBank Deutsche Girozentrale grew its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,037 shares of the company's stock after buying an additional 22,963 shares during the period. DekaBank Deutsche Girozentrale's holdings in Molson Coors Beverage were worth $6,201,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Molson Coors Beverage by 25.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company's stock valued at $1,242,000 after purchasing an additional 4,792 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Molson Coors Beverage by 17.1% during the first quarter. American Century Companies Inc. now owns 18,462 shares of the company's stock valued at $985,000 after purchasing an additional 2,700 shares in the last quarter. US Bancorp DE boosted its position in shares of Molson Coors Beverage by 45.7% during the first quarter. US Bancorp DE now owns 3,834 shares of the company's stock valued at $205,000 after purchasing an additional 1,203 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Molson Coors Beverage by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company's stock valued at $889,000 after purchasing an additional 720 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its position in shares of Molson Coors Beverage by 26.3% during the first quarter. Natixis Advisors L.P. now owns 14,411 shares of the company's stock valued at $769,000 after purchasing an additional 3,001 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.37 during mid-day trading on Thursday, reaching $67.83. 1,439,621 shares of the stock traded hands, compared to its average volume of 1,657,820. Molson Coors Beverage has a 12-month low of $53.75 and a 12-month high of $70.90. The business's 50-day moving average is $64.55 and its 200-day moving average is $62.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $14.63 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. Molson Coors Beverage's revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Molson Coors Beverage will post 5.66 EPS 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 issued a $0.44 dividend. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.59%. Molson Coors Beverage's dividend payout ratio is currently 40.37%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the 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 owns 60,538 shares of the company's stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TAP has been the topic of several analyst reports. Barclays boosted their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th. Piper Sandler initiated coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a "neutral" rating and a $69.00 target price on the stock. The Goldman Sachs Group raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $75.00 in a report on Tuesday. TheStreet raised Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $68.07.

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.