Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 348,580 shares of the company's stock after purchasing an additional 5,446 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 0.17% of Molson Coors Beverage worth $19,981,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pallas Capital Advisors LLC raised its position in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after purchasing an additional 199 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after buying an additional 202 shares during the period. Truvestments Capital LLC lifted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after acquiring an additional 203 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in Molson Coors Beverage by 21.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $65.06.
Check Out Our Latest Stock Analysis on Molson Coors Beverage
Molson Coors Beverage Stock Performance
Molson Coors Beverage stock traded down $1.28 during mid-day trading on Friday, reaching $61.19. The company's stock had a trading volume of 3,780,107 shares, compared to its average volume of 2,051,267. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business has a 50 day moving average price of $58.76 and a 200-day moving average price of $57.91. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.52 and a beta of 0.81.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.
Molson Coors Beverage Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is a positive change 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 Company Profile
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Free Report)
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.
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