First Trust Advisors LP Has $27.60 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

First Trust Advisors LP lowered its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481,501 shares of the company's stock after selling 30,137 shares during the quarter. First Trust Advisors LP owned about 0.23% of Molson Coors Beverage worth $27,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Molson Coors Beverage in the 4th quarter valued at $142,407,000. Raymond James Financial Inc. bought a new stake in Molson Coors Beverage in the 4th quarter valued at $27,660,000. Bank of New York Mellon Corp increased its holdings in Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after buying an additional 434,250 shares during the period. ExodusPoint Capital Management LP bought a new stake in Molson Coors Beverage in the 4th quarter valued at $21,496,000. Finally, LBP AM SA increased its holdings in Molson Coors Beverage by 1,553.3% in the 4th quarter. LBP AM SA now owns 206,664 shares of the company's stock valued at $11,846,000 after buying an additional 194,164 shares during the period. Institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TAP shares. Barclays lowered their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, Berenberg Bank began 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 on the stock. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and a consensus target price of $64.39.

Molson Coors Beverage Trading Up 0.6 %

Molson Coors Beverage stock traded up $0.35 during trading hours on Tuesday, reaching $57.05. 1,734,561 shares of the company's stock traded hands, compared to its average volume of 2,082,246. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.52 and a beta of 0.69. The firm's 50 day moving average is $59.89 and its 200-day moving average is $58.38.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.30%. This is a boost 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.