Zurcher Kantonalbank Zurich Cantonalbank Has $18.87 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,218 shares of the company's stock after buying an additional 12,945 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.14% of Molson Coors Beverage worth $18,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Belpointe Asset Management LLC boosted its position in shares of Molson Coors Beverage by 12.7% in the first quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company's stock worth $79,000 after buying an additional 171 shares during the period. IMPACTfolio LLC raised its holdings in shares of Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company's stock worth $246,000 after acquiring an additional 176 shares in the last quarter. Syntax Advisors LLC raised its holdings in shares of Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company's stock worth $246,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Molson Coors Beverage by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company's stock worth $970,000 after acquiring an additional 196 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 4.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company's stock worth $317,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage 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 in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on TAP shares. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. Piper Sandler started 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. Citigroup increased their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a "hold" rating in a report on Wednesday. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $68.73.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.35 during trading on Friday, reaching $64.23. The company's stock had a trading volume of 1,317,513 shares, compared to its average volume of 1,660,275. 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 business's fifty day moving average price is $64.98 and its 200-day moving average price is $62.23. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. Molson Coors Beverage's payout ratio is presently 40.37%.

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.