11,854 Shares in Molson Coors Beverage (NYSE:TAP) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,854 shares of the company's stock, valued at approximately $679,000.

A number of other hedge funds have also modified their holdings of the business. Truvestments Capital LLC grew its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after buying an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Molson Coors Beverage Stock Down 1.3 %

Shares of TAP traded down $0.77 during mid-day trading on Monday, hitting $60.38. 3,220,944 shares of the company's stock were exchanged, compared to its average volume of 2,059,229. The stock's 50-day moving average is $58.76 and its 200-day moving average is $57.94. 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 fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 11.29, 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 earnings results 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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share 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. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.11%. 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 Ratings Changes

TAP has been the subject of several analyst reports. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective for the company. UBS Group lifted 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 note on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $65.06.

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.