Dynamic Technology Lab Private Ltd Purchases 60,055 Shares of Molson Coors Beverage (NYSE:TAP)

Dynamic Technology Lab Private Ltd increased its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 383.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,711 shares of the company's stock after buying an additional 60,055 shares during the quarter. Molson Coors Beverage comprises approximately 0.5% of Dynamic Technology Lab Private Ltd's portfolio, making the stock its 10th largest position. Dynamic Technology Lab Private Ltd's holdings in Molson Coors Beverage were worth $4,634,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TAP. Kestra Private Wealth Services LLC raised its position in Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company's stock valued at $709,000 after purchasing an additional 174 shares during the period. IMPACTfolio LLC raised its position in Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company's stock valued at $246,000 after purchasing an additional 176 shares during the period. Syntax Advisors LLC raised its position in Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company's stock valued at $246,000 after purchasing an additional 185 shares during the period. Linden Thomas Advisory Services LLC raised its position in Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company's stock valued at $710,000 after purchasing an additional 200 shares during the period. Finally, Kingsview Wealth Management LLC raised its position in Molson Coors Beverage by 4.5% in the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company's stock valued at $317,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

NYSE TAP traded down $1.26 during trading hours on Monday, hitting $55.21. The company had a trading volume of 2,107,680 shares, compared to its average volume of 1,791,381. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. Molson Coors Beverage has a 1-year low of $55.01 and a 1-year high of $70.90. The company has a market cap of $11.70 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. The business has a 50 day moving average of $63.55 and a 200-day moving average of $62.35.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Molson Coors Beverage's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.44 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.76 annualized dividend and a yield of 3.19%. Molson Coors Beverage's dividend payout ratio is presently 35.20%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TAP. Evercore ISI cut their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 1st. Piper Sandler began coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a "neutral" rating and a $69.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, April 17th. Barclays cut their price objective on Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America cut their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.