California Public Employees Retirement System Acquires 94,125 Shares of Molson Coors Beverage (NYSE:TAP)

California Public Employees Retirement System grew its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 455,577 shares of the company's stock after buying an additional 94,125 shares during the period. California Public Employees Retirement System owned 0.21% of Molson Coors Beverage worth $27,886,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new stake in Molson Coors Beverage in the 4th quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $32,000. Allworth Financial LP boosted its stake in Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company's stock worth $38,000 after purchasing an additional 400 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Molson Coors Beverage in the 4th quarter worth approximately $61,000. Finally, Signaturefd LLC boosted its stake in Molson Coors Beverage by 30.2% in the 4th quarter. Signaturefd LLC now owns 1,193 shares of the company's stock worth $73,000 after purchasing an additional 277 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares of the company's stock, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock traded down $0.28 during trading on Friday, reaching $62.54. The company had a trading volume of 1,404,619 shares, compared to its average volume of 1,614,564. The firm's 50-day simple moving average is $65.15 and its 200 day simple moving average is $62.37. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The firm has a market capitalization of $13.30 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.16 and a beta of 0.84. 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 (NYSE:TAP - Get Free Report) last released its quarterly 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 net margin of 6.83% and a return on equity of 8.89%. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. During the same quarter last year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.81%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TheStreet upgraded shares of Molson Coors Beverage from a "c" rating to a "b-" rating in a research note on Tuesday, February 13th. Barclays raised their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Friday, April 12th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a "neutral" rating and a $69.00 price target for the company. The Goldman Sachs Group raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.07.

Molson Coors Beverage Company 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.