Vontobel Holding Ltd. Purchases 8,240 Shares of Molson Coors Beverage (NYSE:TAP)

Vontobel Holding Ltd. lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,008 shares of the company's stock after buying an additional 8,240 shares during the period. Vontobel Holding Ltd. owned about 0.06% of Molson Coors Beverage worth $7,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage during the third quarter worth about $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the third quarter worth about $42,000. True Wealth Design LLC acquired a new position in shares of Molson Coors Beverage during the third quarter worth about $59,000. Allworth Financial LP boosted its position in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company's stock worth $68,000 after buying an additional 297 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Molson Coors Beverage during the third quarter worth about $77,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAP has been the topic of several analyst reports. Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Barclays upped their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday. 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 report on Wednesday, February 5th. UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $63.27.

Molson Coors Beverage Price Performance

Shares of TAP stock traded down $0.47 during trading hours on Wednesday, reaching $60.16. The company's stock had a trading volume of 2,591,588 shares, compared to its average volume of 2,016,140. The firm's 50 day simple moving average is $56.46 and its 200-day simple moving average is $56.47. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 2.23 and a beta of 0.85. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Sell-side analysts forecast that Molson Coors Beverage will post 6.11 earnings per share for the current 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 paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is presently 32.90%.

Molson Coors Beverage 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.