Ossiam Increases Position in Molson Coors Beverage (NYSE:TAP)

Ossiam raised its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1,413.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,683 shares of the company's stock after acquiring an additional 15,581 shares during the period. Ossiam's holdings in Molson Coors Beverage were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TAP. Norges Bank bought a new position in Molson Coors Beverage during the fourth quarter valued at $142,407,000. Raymond James Financial Inc. bought a new position in shares of Molson Coors Beverage in the fourth quarter worth about $27,660,000. Bank of New York Mellon Corp grew its holdings in shares of Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock worth $202,661,000 after purchasing an additional 434,250 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after purchasing an additional 422,515 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of Molson Coors Beverage in the fourth quarter worth about $21,496,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 2.6 %

NYSE TAP traded down $1.53 on Friday, hitting $56.82. The stock had a trading volume of 2,273,058 shares, compared to its average volume of 2,085,901. The business's fifty day moving average price is $59.96 and its 200 day moving average price is $58.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.31%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TAP. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $64.39.

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.