Molson Coors Beverage (NYSE:TAP) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,050 shares of the company's stock after acquiring an additional 12,243 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.11% of Molson Coors Beverage worth $12,671,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clark Estates Inc. NY increased its position in shares of Molson Coors Beverage by 18.1% during the third 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 during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Molson Coors Beverage by 1.6% in 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 during the period. Wilsey Asset Management Inc. boosted its stake in shares of 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 period. Qsemble Capital Management LP boosted its stake in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock valued at $2,788,000 after purchasing an additional 9,234 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after purchasing an additional 9,510 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Barclays raised their price objective on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $63.27.

Molson Coors Beverage Stock Performance

TAP traded down $0.29 on Friday, reaching $61.25. The company had a trading volume of 3,533,516 shares, compared to its average volume of 2,114,811. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $12.45 billion, a PE ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.85. The stock has a 50-day moving average price of $56.60 and a 200-day moving average price of $56.82.

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 for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during 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%. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is 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 currently 35.14%.

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.