Beck Bode LLC Invests $1.79 Million in Molson Coors Beverage (NYSE:TAP)

Beck Bode LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,165 shares of the company's stock, valued at approximately $1,785,000.

Several other large investors have also bought and sold shares of TAP. Pacer Advisors Inc. increased its position in shares of Molson Coors Beverage by 9,466.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company's stock worth $131,211,000 after acquiring an additional 2,121,211 shares in the last quarter. AQR Capital Management LLC grew its position in Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock valued at $218,168,000 after purchasing an additional 1,500,269 shares in the last quarter. Morgan Stanley grew its position in Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company's stock valued at $219,194,000 after purchasing an additional 988,864 shares in the last quarter. Deutsche Bank AG grew its position in shares of Molson Coors Beverage by 57.4% in the 3rd quarter. Deutsche Bank AG now owns 1,233,622 shares of the company's stock valued at $78,446,000 after acquiring an additional 449,971 shares during the period. Finally, River Road Asset Management LLC grew its position in shares of Molson Coors Beverage by 94.8% in the 4th quarter. River Road Asset Management LLC now owns 843,373 shares of the company's stock valued at $51,623,000 after acquiring an additional 410,467 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 9.9 %

Shares of Molson Coors Beverage stock traded down $6.27 during trading on Tuesday, reaching $57.29. 5,969,967 shares of the company traded hands, compared to its average volume of 1,735,450. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The company has a 50 day moving average price of $65.18 and a 200-day moving average price of $62.41. 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 $12.18 billion, a PE ratio of 13.50, a P/E/G ratio of 2.16 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business's revenue was up 6.1% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage's dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

Several analysts have weighed in on TAP shares. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a "neutral" rating and a $69.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, April 17th. Barclays lifted their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Friday, April 12th. Finally, Citigroup cut shares of Molson Coors Beverage from a "neutral" rating to a "sell" rating and dropped their target price for the company from $66.00 to $56.00 in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $68.07.

Insider Transactions at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated Monday, February 12th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.71% of the company's stock.

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.

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