Russell Investments Group Ltd. Grows Stake in Molson Coors Beverage (NYSE:TAP)

Russell Investments Group Ltd. lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 410,181 shares of the company's stock after buying an additional 97,198 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Molson Coors Beverage worth $25,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TAP. IMPACTfolio LLC increased its stake in Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company's stock worth $246,000 after purchasing an additional 176 shares during the period. Syntax Advisors LLC increased its stake in Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company's stock worth $246,000 after buying an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Molson Coors Beverage by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company's stock valued at $970,000 after buying an additional 196 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Molson Coors Beverage by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company's stock valued at $710,000 after buying an additional 200 shares during the period. Finally, Kingsview Wealth Management LLC grew its stake in Molson Coors Beverage by 4.5% in the 3rd 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. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the firm's 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 approximately $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Price Performance

NYSE TAP traded up $0.72 during trading hours on Thursday, reaching $57.80. The company's stock had a trading volume of 2,792,095 shares, compared to its average volume of 1,760,894. The company's 50-day moving average is $64.96 and its two-hundred day moving average is $62.36. The stock has a market cap of $12.29 billion, a PE ratio of 11.56, a PEG ratio of 1.98 and a beta of 0.86. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 3.04%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.20%.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. UBS Group lowered their price target on Molson Coors Beverage from $70.00 to $64.00 and set a "neutral" rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $66.00 to $60.00 and set a "neutral" rating for the company in a research report on Wednesday. Evercore ISI reduced their price objective on shares of Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating for the company in a research note on Wednesday. Bank of America reduced their target price on Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Barclays decreased their price target on shares of Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $65.53.

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.