Molson Coors Beverage (NYSE:TAP) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,684,621 shares of the company's stock after buying an additional 33,234 shares during the period. Charles Schwab Investment Management Inc. owned about 0.82% of Molson Coors Beverage worth $96,562,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares during the period. 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 period. Finally, Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 4.2 %

NYSE TAP opened at $61.91 on Monday. 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 company's 50 day simple moving average is $56.83 and its 200 day simple moving average is $57.17. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market capitalization of $12.54 billion, a P/E ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81.

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Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results 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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share 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. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is currently 35.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus price target of $63.27.

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.

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