Mariner LLC Buys 6,095 Shares of Molson Coors Beverage (NYSE:TAP)

Mariner LLC raised its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,449 shares of the company's stock after acquiring an additional 6,095 shares during the quarter. Mariner LLC's holdings in Molson Coors Beverage were worth $1,917,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TAP. Norges Bank bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $142,407,000. Raymond James Financial Inc. acquired a new position in Molson Coors Beverage in the fourth quarter valued at approximately $27,660,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $202,661,000 after buying an additional 434,250 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $21,496,000. Finally, LBP AM SA increased its stake in shares of Molson Coors Beverage by 1,553.3% in the 4th quarter. LBP AM SA now owns 206,664 shares of the company's stock valued at $11,846,000 after acquiring an additional 194,164 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP stock traded down $1.53 during mid-day trading on Friday, hitting $56.82. The company had a trading volume of 2,273,058 shares, compared to its average volume of 2,085,901. 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 firm has a market cap of $11.51 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The stock's fifty day moving average price is $59.96 and its two-hundred day moving average price is $58.34.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.71 billion. On average, analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.31%. 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 (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several research reports. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $64.39.

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.