Geode Capital Management LLC Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Geode Capital Management LLC increased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,291,048 shares of the company's stock after purchasing an additional 54,867 shares during the period. Geode Capital Management LLC owned approximately 2.08% of Molson Coors Beverage worth $245,308,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TAP. Pallas Capital Advisors LLC raised its holdings in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock worth $975,000 after buying an additional 199 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after acquiring an additional 202 shares during the last quarter. Truvestments Capital LLC raised its holdings in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Molson Coors Beverage by 21.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after purchasing an additional 218 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

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Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded down $0.77 during trading hours on Monday, reaching $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 firm has a 50 day moving average price of $58.84 and a 200-day moving average price of $57.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market cap of $12.23 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.52 and a beta of 0.69. 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 issued its quarterly earnings data 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. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared 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. This represents a $1.88 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. 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 research note on Thursday, January 30th. Barclays dropped their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Berenberg Bank began coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Needham & Company LLC restated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.06.

About Molson Coors Beverage

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.