Molson Coors Beverage (NYSE:TAP) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 70.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,828 shares of the company's stock after buying an additional 62,159 shares during the period. American Century Companies Inc. owned approximately 0.07% of Molson Coors Beverage worth $8,645,000 at the end of the most recent reporting period.

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

Molson Coors Beverage Stock Up 0.8 %

Shares of Molson Coors Beverage stock opened at $62.48 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.70 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 50-day moving average price of $58.64 and a 200 day moving average price of $57.87. The company has a market cap of $12.66 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.52 and a beta of 0.81.

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Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.71 billion. As a group, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.01%. 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 35.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on TAP. Berenberg Bank initiated coverage on Molson Coors Beverage in a research note on Wednesday. They issued a "buy" rating and a $86.90 price objective on the stock. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Barclays cut their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Finally, UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.06.

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.

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