Fox Run Management L.L.C. Buys New Stake in Molson Coors Beverage (NYSE:TAP)

Fox Run Management L.L.C. purchased a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,273 shares of the company's stock, valued at approximately $818,000.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its stake in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Molson Coors Beverage in the 4th quarter worth approximately $27,660,000. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 434,250 shares in the last quarter. Invenomic Capital Management LP increased its holdings in shares of 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 in the last quarter. Finally, LBP AM SA boosted its position in shares of Molson Coors Beverage by 1,553.3% during the fourth 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 last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.58 during mid-day trading on Tuesday, reaching $58.69. The stock had a trading volume of 1,295,267 shares, compared to its average volume of 1,957,677. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The business has a fifty day moving average of $57.76 and a 200 day moving average of $57.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

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

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Barclays raised shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $56.00 to $62.00 in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus target price of $63.67.

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.