Molson Coors Beverage (NYSE:TAP) Stock Position Raised by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 6,418.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 151,416 shares of the company's stock after buying an additional 149,093 shares during the period. International Assets Investment Management LLC owned about 0.07% of Molson Coors Beverage worth $9,268,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TAP. Raymond James Financial Services Advisors Inc. increased its stake in shares of Molson Coors Beverage by 25.9% in the 1st 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 holdings in Molson Coors Beverage by 17.1% in the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company's stock worth $985,000 after buying an additional 2,700 shares during the last quarter. US Bancorp DE boosted its holdings in Molson Coors Beverage by 45.7% in the 1st quarter. US Bancorp DE now owns 3,834 shares of the company's stock worth $205,000 after buying an additional 1,203 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Molson Coors Beverage by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company's stock worth $889,000 after buying an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in Molson Coors Beverage by 26.3% in the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company's stock worth $769,000 after buying an additional 3,001 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 2.2 %

NYSE TAP traded down $1.47 on Friday, reaching $66.34. The stock had a trading volume of 1,338,029 shares, compared to its average volume of 1,556,793. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.31 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12-month low of $54.17 and a 12-month high of $70.90. The stock has a fifty day moving average price of $64.64 and a two-hundred day moving average price of $62.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) 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 analyst estimates of $2.78 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio is currently 40.37%.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

TAP has been the topic of several research analyst reports. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday. Barclays boosted their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Friday. Piper Sandler began coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a "neutral" rating and a $69.00 target price on the stock. Finally, The Goldman Sachs Group upgraded 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, April 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $68.20.

Molson Coors Beverage Profile

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.