80,468 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Fisher Funds Management LTD

Fisher Funds Management LTD bought a new position in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 80,468 shares of the company's stock, valued at approximately $4,604,000.

A number of other institutional investors have also modified their holdings of the stock. Clark Estates Inc. NY boosted its position in Molson Coors Beverage by 18.1% during the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock valued at $3,451,000 after acquiring an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after purchasing an additional 563 shares in the last quarter. Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after purchasing an additional 8,679 shares during the last quarter. Qsemble Capital Management LP boosted its stake in Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock worth $2,788,000 after purchasing an additional 9,234 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock worth $12,183,000 after purchasing an additional 9,510 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the subject of several research reports. Hsbc Global Res downgraded shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. UBS Group lifted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and upped their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $63.27.

Molson Coors Beverage Stock Performance

NYSE TAP traded down $0.55 during mid-day trading on Thursday, reaching $61.51. 2,175,349 shares of the stock were exchanged, compared to its average volume of 2,077,472. The company has a market capitalization of $12.50 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.52 and a beta of 0.85. 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 business's 50 day moving average is $56.54 and its 200-day moving average is $56.78. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.06%. Molson Coors Beverage's payout ratio is 35.14%.

Molson Coors Beverage Company 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.