Randolph Co Inc Grows Position in Molson Coors Beverage (NYSE:TAP)

Randolph Co Inc lifted 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,187 shares of the company's stock after buying an additional 98,984 shares during the period. Molson Coors Beverage makes up 3.1% of Randolph Co Inc's holdings, making the stock its 14th biggest position. Randolph Co Inc owned 0.23% of Molson Coors Beverage worth $27,352,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms recently weighed in on TAP. Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Barclays reduced their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $64.14.

Molson Coors Beverage Stock Up 0.5 %

TAP traded up $0.30 during trading on Friday, reaching $57.55. 1,859,805 shares of the stock were exchanged, compared to its average volume of 2,057,925. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66. The stock has a market cap of $11.66 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The stock's 50 day moving average price is $59.63 and its two-hundred day moving average price is $58.42. 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 released 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 during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Molson Coors Beverage Company 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.