Randolph Co Inc Buys 98,984 Shares of Molson Coors Beverage (NYSE:TAP)

Randolph Co Inc grew its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 477,187 shares of the company's stock after purchasing an additional 98,984 shares during the quarter. Molson Coors Beverage comprises 3.1% of Randolph Co Inc's portfolio, making the stock its 14th biggest holding. Randolph Co Inc owned approximately 0.23% of Molson Coors Beverage worth $27,352,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Quarry LP boosted its holdings in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after buying an additional 203 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after buying an additional 276 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TAP shares. Berenberg Bank started coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $64.39.

Molson Coors Beverage Trading Down 0.6 %

TAP traded down $0.32 during mid-day trading on Thursday, reaching $57.21. The stock had a trading volume of 1,701,328 shares, compared to its average volume of 2,061,644. The firm's fifty day simple moving average is $59.69 and its two-hundred day simple moving average is $58.38. The stock has a market capitalization of $11.59 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's payout ratio is 35.14%.

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.