Dodge & Cox Cuts Stock Position in Molson Coors Beverage (NYSE:TAP)

Dodge & Cox lowered its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,571,189 shares of the company's stock after selling 48,275 shares during the quarter. Dodge & Cox owned about 7.07% of Molson Coors Beverage worth $835,221,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, 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. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Stock Up 0.0 %

TAP stock traded up $0.01 on Friday, hitting $58.72. 1,549,253 shares of the company's stock were exchanged, compared to its average volume of 2,081,011. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market cap of $11.90 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The firm has a 50 day moving average price of $60.01 and a two-hundred day moving average price of $58.22. 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 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 35.14%.

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.