River Road Asset Management LLC Buys 410,467 Shares of Molson Coors Beverage (NYSE:TAP)

River Road Asset Management LLC increased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 94.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 843,373 shares of the company's stock after buying an additional 410,467 shares during the quarter. River Road Asset Management LLC owned 0.39% of Molson Coors Beverage worth $51,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Molson Coors Beverage by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company's stock worth $1,138,589,000 after purchasing an additional 1,235,013 shares during the period. State Street Corp increased its stake in Molson Coors Beverage by 1.7% in the 1st quarter. State Street Corp now owns 8,727,747 shares of the company's stock worth $465,887,000 after purchasing an additional 143,757 shares during the period. Capital International Investors increased its stake in Molson Coors Beverage by 1.0% in the 1st quarter. Capital International Investors now owns 4,721,084 shares of the company's stock worth $252,011,000 after purchasing an additional 49,044 shares during the period. Geode Capital Management LLC increased its stake in Molson Coors Beverage by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 3,859,484 shares of the company's stock worth $198,998,000 after purchasing an additional 38,966 shares during the period. Finally, AQR Capital Management LLC increased its stake in Molson Coors Beverage by 76.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock worth $218,168,000 after purchasing an additional 1,500,269 shares during the period. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

TAP has been the topic of several research analyst reports. Citigroup boosted their target price on Molson Coors Beverage from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Tuesday. StockNews.com raised Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. Barclays boosted their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Friday, April 12th. Piper Sandler initiated coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They set a "neutral" rating and a $69.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $68.73.

Molson Coors Beverage Stock Up 0.4 %

Shares of NYSE TAP traded up $0.28 during mid-day trading on Wednesday, hitting $63.54. 1,816,739 shares of the stock traded hands, compared to its average volume of 1,666,484. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.26 and a beta of 0.84. The stock has a fifty day moving average price of $64.82 and a 200-day moving average price of $62.21.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business 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 represents a $1.76 annualized dividend and a yield of 2.77%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage's payout ratio is 40.37%.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly 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 is available at this hyperlink. Corporate insiders own 2.71% of the company's stock.

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.