Cerity Partners LLC Purchases 5,602 Shares of Molson Coors Beverage (NYSE:TAP)

Cerity Partners LLC lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,602 shares of the company's stock after acquiring an additional 5,602 shares during the period. Cerity Partners LLC's holdings in Molson Coors Beverage were worth $5,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its stake in Molson Coors Beverage by 39.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 7,916 shares of the company's stock valued at $454,000 after buying an additional 2,257 shares during the period. Russell Investments Group Ltd. boosted its stake in Molson Coors Beverage by 1.8% during the fourth quarter. Russell Investments Group Ltd. now owns 331,704 shares of the company's stock worth $19,013,000 after acquiring an additional 5,943 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Molson Coors Beverage in the fourth quarter worth $267,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $3,096,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Molson Coors Beverage during the 4th quarter worth about $21,496,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Monday. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley raised their price objective 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. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $64.39.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.01 on Friday, hitting $58.72. 1,549,253 shares of the stock traded hands, compared to its average volume of 2,081,011. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.69. The business's fifty day moving average is $59.92 and its two-hundred day moving average is $58.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $65.24.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, equities 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 disclosed 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 3.20%. This is a positive change 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 currently 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.