Molson Coors Beverage (NYSE:TAP) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,535,604 shares of the company's stock after purchasing an additional 434,250 shares during the period. Bank of New York Mellon Corp owned 1.72% of Molson Coors Beverage worth $202,661,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp grew its holdings in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Molson Coors Beverage by 1.8% during the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company's stock valued at $96,475,000 after acquiring an additional 29,315 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth about $48,202,000. RWC Asset Management LLP raised its stake in Molson Coors Beverage by 17.8% in the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company's stock valued at $42,829,000 after purchasing an additional 113,091 shares during the last quarter. Finally, FMR LLC lifted its holdings in Molson Coors Beverage by 23.2% in the 3rd quarter. FMR LLC now owns 716,311 shares of the company's stock valued at $41,202,000 after purchasing an additional 134,689 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Morgan Stanley lifted their price objective 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. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a "neutral" rating and a $64.00 target price on the stock. Hsbc Global Res lowered Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and an average target price of $63.27.

Molson Coors Beverage Trading Up 0.0 %

NYSE TAP traded up $0.01 during mid-day trading on Monday, hitting $61.30. The company's stock had a trading volume of 1,290,990 shares, compared to its average volume of 1,905,433. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock's fifty day simple moving average is $56.64 and its two-hundred day simple moving average is $56.94. The firm has a market capitalization of $12.42 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. 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 issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage's dividend 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.