Advisory Services Network LLC Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Advisory Services Network LLC boosted its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 175.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,098 shares of the company's stock after purchasing an additional 13,446 shares during the period. Advisory Services Network LLC's holdings in Molson Coors Beverage were worth $1,209,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Molson Coors Beverage by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares during the period. Invesco Ltd. boosted its stake in Molson Coors Beverage by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after purchasing an additional 152,622 shares during the period. Bank of New York Mellon Corp raised its position in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after buying an additional 434,250 shares during the last quarter. Norges Bank purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth $142,407,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Molson Coors Beverage by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock worth $96,562,000 after acquiring an additional 33,234 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Monday. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price for the company. Barclays lowered their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $64.39.

Molson Coors Beverage Stock Up 0.0 %

NYSE TAP traded up $0.01 on Friday, reaching $58.72. 1,549,253 shares of the stock traded hands, compared to its average volume of 2,081,011. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $65.24. The company has a fifty day moving average price of $59.92 and a 200-day moving average price of $58.21.

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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. As a group, research analysts forecast 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 given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

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.