Molson Coors Beverage (NYSE:TAP) Holdings Raised by Empirical Finance LLC

Empirical Finance LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 147.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,899 shares of the company's stock after buying an additional 9,464 shares during the period. Empirical Finance LLC's holdings in Molson Coors Beverage were worth $911,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TAP. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth about $48,202,000. State Street Corp grew its position in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock worth $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Randolph Co Inc bought a new position in Molson Coors Beverage in the 3rd quarter worth about $21,754,000. Invenomic Capital Management LP grew its position in Molson Coors Beverage by 131.1% in the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock worth $29,875,000 after purchasing an additional 294,596 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in Molson Coors Beverage by 149.1% in the 3rd quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company's stock worth $21,652,000 after purchasing an additional 225,296 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

TAP stock traded up $1.79 on Friday, hitting $60.33. 3,271,556 shares of the company's stock traded hands, compared to its average volume of 1,967,865. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85. The stock has a fifty day moving average of $56.50 and a 200-day moving average of $56.31. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. On average, analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 39.64%.

Analyst Ratings Changes

Several research firms have commented on TAP. Barclays decreased their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a "neutral" rating and a $64.00 price target for the company. 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 note on Friday. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $62.73.

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.