Franklin Resources Inc. Has $42.88 Million Position in Molson Coors Beverage (NYSE:TAP)

Franklin Resources Inc. boosted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 748,011 shares of the company's stock after acquiring an additional 38,542 shares during the period. Franklin Resources Inc. owned about 0.36% of Molson Coors Beverage worth $42,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock worth $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Molson Coors Beverage by 14.0% during 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 purchasing an additional 434,250 shares during the period. Norges Bank bought a new position in Molson Coors Beverage in the 4th quarter worth about $142,407,000. Charles Schwab Investment Management Inc. increased its stake in shares of Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock valued at $96,562,000 after purchasing an additional 33,234 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Molson Coors Beverage by 5.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company's stock valued at $50,472,000 after buying an additional 42,530 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on TAP shares. StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Barclays decreased their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Citigroup upgraded 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 research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $65.06.

Molson Coors Beverage Stock Performance

Shares of TAP traded down $0.77 during mid-day trading on Monday, hitting $60.38. The company's stock had a trading volume of 3,220,944 shares, compared to its average volume of 2,059,229. The stock's 50-day moving average is $58.84 and its two-hundred day moving average is $57.98. The firm has a market capitalization of $12.23 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. 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 one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was 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 3.11%. Molson Coors Beverage's payout ratio is currently 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.