Molson Coors Beverage (NYSE:TAP) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,910 shares of the company's stock after buying an additional 5,792 shares during the period. DnB Asset Management AS's holdings in Molson Coors Beverage were worth $2,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Truvestments Capital LLC boosted its stake in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after buying an additional 202 shares during the period. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted 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 acquiring an additional 203 shares during the period. Private Trust Co. NA grew its stake in shares of Molson Coors Beverage by 53.1% in the 4th 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 increased its holdings in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

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Molson Coors Beverage Trading Up 0.8 %

Shares of Molson Coors Beverage stock traded up $0.53 during trading hours on Thursday, reaching $62.48. 4,413,036 shares of the company's stock were exchanged, compared to its average volume of 2,041,668. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. 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 52-week low of $49.19 and a 52-week high of $69.18. The company has a fifty day moving average of $58.64 and a 200-day moving average of $57.87.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Sell-side analysts forecast 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. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. This is an increase 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

TAP has been the topic of a number of analyst reports. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. UBS Group raised 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $65.06.

About Molson Coors Beverage

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.