Bridgewater Associates LP trimmed its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,396 shares of the company's stock after selling 140,144 shares during the period. Bridgewater Associates LP's holdings in Molson Coors Beverage were worth $3,462,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC grew its holdings in shares of Molson Coors Beverage by 14.8% during the 4th quarter. Guggenheim Capital LLC now owns 36,151 shares of the company's stock valued at $2,072,000 after acquiring an additional 4,656 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Molson Coors Beverage during the 4th quarter valued at $116,000. Mariner LLC lifted its stake in shares of Molson Coors Beverage by 22.3% in the 4th quarter. Mariner LLC now owns 33,449 shares of the company's stock valued at $1,917,000 after purchasing an additional 6,095 shares during the last quarter. Barclays PLC lifted its stake in shares of Molson Coors Beverage by 1.8% in the 4th quarter. Barclays PLC now owns 528,469 shares of the company's stock valued at $30,290,000 after purchasing an additional 9,389 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 17.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 48,316 shares of the company's stock valued at $2,769,000 after purchasing an additional 7,036 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Beverage Trading Down 0.6 %
Shares of Molson Coors Beverage stock traded down $0.38 during trading on Wednesday, reaching $58.62. 324,998 shares of the company were exchanged, compared to its average volume of 2,267,499. The company has a quick ratio of 0.70, a current ratio of 0.94 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 $64.66. The business has a 50-day moving average price of $60.11 and a 200-day moving average price of $58.27. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 1.52 and a beta of 0.69.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.
Molson Coors Beverage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 3.21%. This is a boost 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 payout ratio is presently 35.14%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TAP. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price for the company. JPMorgan Chase & Co. cut their target price on shares of 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. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Monday, April 14th. Finally, Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. 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 presently has an average rating of "Hold" and a consensus target price of $64.39.
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About Molson Coors Beverage
(
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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