Molson Coors Beverage (NYSE:TAP) Position Increased by DnB Asset Management AS

DnB Asset Management AS grew its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,910 shares of the company's stock after acquiring an additional 5,792 shares during the quarter. DnB Asset Management AS's holdings in Molson Coors Beverage were worth $2,517,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TAP. Pallas Capital Advisors LLC grew its position in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock valued at $975,000 after acquiring an additional 199 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after purchasing an additional 202 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of 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 purchasing an additional 202 shares during the period. SRS Capital Advisors Inc. increased its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock valued at $71,000 after buying an additional 218 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 2.0 %

NYSE:TAP traded down $1.28 during mid-day trading on Friday, reaching $61.19. The stock had a trading volume of 3,780,107 shares, compared to its average volume of 2,054,583. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock's 50 day simple moving average is $58.76 and its two-hundred day simple moving average is $57.94.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS 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%. Equities analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current 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 dividend of $0.47 per share. 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. This represents a $1.88 annualized dividend and a yield of 3.07%. Molson Coors Beverage's payout ratio is presently 35.14%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays decreased their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Morgan Stanley upped their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. 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 presently has an average rating of "Hold" and a consensus price target 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.