Molson Coors Beverage (NYSE:TAP) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 34.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,665 shares of the company's stock after purchasing an additional 12,989 shares during the period. Cerity Partners LLC's holdings in Molson Coors Beverage were worth $3,101,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in 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 acquiring an additional 4,792 shares during the period. American Century Companies Inc. raised its stake 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 valued at $985,000 after acquiring an additional 2,700 shares during the period. US Bancorp DE raised its stake in Molson Coors Beverage by 45.7% in the 1st quarter. US Bancorp DE now owns 3,834 shares of the company's stock valued at $205,000 after acquiring an additional 1,203 shares during the period. PNC Financial Services Group Inc. raised its stake 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 valued at $889,000 after acquiring an additional 720 shares during the period. Finally, Natixis Advisors L.P. raised its stake 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 valued at $769,000 after acquiring an additional 3,001 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a research note on Tuesday, February 13th. Barclays lifted their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an "equal weight" rating in a report on Friday, April 12th. Piper Sandler initiated coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a "neutral" rating and a $69.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $68.73.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Trading Up 0.5 %

TAP stock traded up $0.34 during midday trading on Thursday, hitting $63.88. The company had a trading volume of 1,507,507 shares, compared to its average volume of 1,664,363. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The stock's 50 day moving average price is $64.90 and its 200 day moving average price is $62.22. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 2.21 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio is currently 40.37%.

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.