Molson Coors Beverage (NYSE:TAP) Shares Bought by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC boosted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 41.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,524 shares of the company's stock after acquiring an additional 4,819 shares during the quarter. Arete Wealth Advisors LLC's holdings in Molson Coors Beverage were worth $945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted 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 purchasing an additional 681,757 shares during the last quarter. Geode Capital Management LLC grew its holdings in Molson Coors Beverage by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 valued at $202,661,000 after buying an additional 434,250 shares in the last quarter. Norges Bank purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $142,407,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock worth $96,562,000 after purchasing an additional 33,234 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. 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 note on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Berenberg Bank assumed coverage on shares of 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. Finally, Barclays cut their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.06.

Molson Coors Beverage Stock Down 1.3 %

Molson Coors Beverage stock traded down $0.77 during midday trading on Monday, hitting $60.38. 3,220,944 shares of the company were exchanged, compared to its average volume of 2,059,229. The company has a market cap of $12.23 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company's fifty day moving average price is $58.84 and its 200-day moving average price is $57.98. 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 (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 8.17% and a return on equity of 9.34%. On average, research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is presently 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.