Royal London Asset Management Ltd. Buys 18,882 Shares of Molson Coors Beverage (NYSE:TAP)

Royal London Asset Management Ltd. lifted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 476,103 shares of the company's stock after purchasing an additional 18,882 shares during the quarter. Royal London Asset Management Ltd. owned 0.23% of Molson Coors Beverage worth $27,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC boosted its stake in shares of Molson Coors Beverage by 20.4% during the 3rd quarter. Natixis Advisors LLC now owns 39,687 shares of the company's stock valued at $2,283,000 after buying an additional 6,723 shares during the period. Caprock Group LLC raised its holdings in shares of Molson Coors Beverage by 7.7% during the third quarter. Caprock Group LLC now owns 8,652 shares of the company's stock worth $498,000 after acquiring an additional 616 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Molson Coors Beverage in the third quarter valued at about $794,000. PNC Financial Services Group Inc. grew its stake in Molson Coors Beverage by 31.6% in the third quarter. PNC Financial Services Group Inc. now owns 29,493 shares of the company's stock valued at $1,696,000 after purchasing an additional 7,086 shares in the last quarter. Finally, Commerce Bank acquired a new position in Molson Coors Beverage in the 3rd quarter worth about $209,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

NYSE TAP traded down $0.58 on Tuesday, hitting $58.69. 1,295,267 shares of the company were exchanged, compared to its average volume of 1,954,865. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a 50 day moving average of $57.76 and a two-hundred day moving average of $57.59. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.89 billion, a P/E ratio of 10.97, 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 announced its 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. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.20%. The ex-dividend date 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 is 35.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TAP shares. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Finally, Barclays upgraded Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $56.00 to $62.00 in a research note on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $63.67.

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.