Dynamic Technology Lab Private Ltd Takes Position in Molson Coors Beverage (NYSE:TAP)

Dynamic Technology Lab Private Ltd purchased a new position in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,653 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also bought and sold shares of TAP. Resona Asset Management Co. Ltd. purchased a new stake in shares of Molson Coors Beverage in the 4th quarter worth about $3,096,000. ExodusPoint Capital Management LP bought a new stake in Molson Coors Beverage during the fourth quarter worth about $21,496,000. Arete Wealth Advisors LLC grew its holdings in Molson Coors Beverage by 41.2% in the fourth quarter. Arete Wealth Advisors LLC now owns 16,524 shares of the company's stock worth $945,000 after purchasing an additional 4,819 shares during the period. Cinctive Capital Management LP bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $679,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock valued at $245,308,000 after purchasing an additional 54,867 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TAP shares. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Monday. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. 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 target price for the company. Finally, Morgan Stanley increased their price target 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. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.57 on Wednesday, hitting $60.08. 477,724 shares of the company's stock were exchanged, compared to its average volume of 2,297,767. 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 capitalization of $12.17 billion, a PE ratio of 11.23, a PEG 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 $65.24. The company has a 50-day simple moving average of $59.72 and a 200-day simple moving average of $58.19.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.13%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. 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.