Vanguard Group Inc. Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Vanguard Group Inc. increased its position in Molson Coors Beverage (NYSE:TAP) by 0.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,498,302 shares of the company’s stock after buying an additional 6,221 shares during the period. Vanguard Group Inc. owned 0.10% of Molson Coors Beverage worth $1,232,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter worth about $27,660,000. Bank of New York Mellon Corp increased its position in Molson Coors Beverage by 14.0% during the 4th 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 in the last quarter. Invenomic Capital Management LP raised its holdings in Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after buying an additional 294,596 shares during the period. Finally, LBP AM SA lifted its position in Molson Coors Beverage by 1,553.3% during the fourth quarter. LBP AM SA now owns 206,664 shares of the company’s stock valued at $11,846,000 after buying an additional 194,164 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $60.98 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.35 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock has a 50 day moving average of $58.00 and a 200-day moving average of $57.64.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for 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, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.08%. 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 dividend payout ratio (DPR) is 35.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TAP shares. Morgan Stanley raised their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. UBS Group boosted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Barclays reduced their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $63.60.

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.