Tower Research Capital LLC TRC Boosts Stock Position in Molson Coors Beverage (NYSE:TAP)

Tower Research Capital LLC TRC boosted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 245.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,808 shares of the company's stock after acquiring an additional 14,791 shares during the quarter. Tower Research Capital LLC TRC's holdings in Molson Coors Beverage were worth $1,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirabella Financial Services LLP purchased a new position in Molson Coors Beverage in the 4th quarter worth approximately $1,335,000. MetLife Investment Management LLC lifted its holdings in shares of Molson Coors Beverage by 1.1% in the fourth quarter. MetLife Investment Management LLC now owns 46,162 shares of the company's stock worth $2,646,000 after buying an additional 494 shares in the last quarter. Natixis boosted its position in shares of Molson Coors Beverage by 117.5% during the fourth quarter. Natixis now owns 46,337 shares of the company's stock worth $2,656,000 after acquiring an additional 25,036 shares during the last quarter. Norinchukin Bank The grew its stake in Molson Coors Beverage by 8.2% during the fourth quarter. Norinchukin Bank The now owns 7,762 shares of the company's stock valued at $445,000 after acquiring an additional 588 shares in the last quarter. Finally, Ossiam increased its holdings in Molson Coors Beverage by 1,413.9% in the 4th quarter. Ossiam now owns 16,683 shares of the company's stock valued at $956,000 after acquiring an additional 15,581 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Finally, UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Price Performance

Shares of TAP stock traded down $0.21 during trading hours on Wednesday, reaching $56.85. The company had a trading volume of 252,040 shares, compared to its average volume of 2,236,832. The stock has a fifty day moving average of $59.83 and a 200-day moving average of $58.37. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.52 and a beta of 0.69. 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 has a 12-month low of $49.19 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 8.17% and a return on equity of 9.34%. On average, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 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.