Grantham Mayo Van Otterloo & Co. LLC Reduces Stock Position in Molson Coors Beverage (NYSE:TAP)

Grantham Mayo Van Otterloo & Co. LLC lessened its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,400 shares of the company's stock after selling 140,903 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.07% of Molson Coors Beverage worth $8,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TAP. Truvestments Capital LLC grew its stake in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after buying an additional 428 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after buying an additional 203 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after buying an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after buying an additional 489 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

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Molson Coors Beverage Stock Up 0.1 %

Molson Coors Beverage stock traded up $0.05 during mid-day trading on Friday, reaching $60.00. The stock had a trading volume of 1,051,618 shares, compared to its average volume of 2,067,443. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a one year low of $49.19 and a one year high of $68.15. The company has a 50-day moving average price of $59.32 and a two-hundred day moving average price of $58.10.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. On average, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.13%. This is a boost 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

Several analysts recently weighed in on the stock. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. JPMorgan Chase & Co. cut 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 note on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. UBS Group lifted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $64.39.

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.