LPL Financial LLC Has $41.13 Million Holdings in Molson Coors Beverage (NYSE:TAP)

LPL Financial LLC boosted its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 717,592 shares of the company's stock after acquiring an additional 131,276 shares during the period. LPL Financial LLC owned 0.35% of Molson Coors Beverage worth $41,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% in 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 purchasing an additional 434,250 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock valued at $96,562,000 after purchasing an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Molson Coors Beverage by 5.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company's stock worth $50,472,000 after purchasing an additional 42,530 shares during the period. Finally, RWC Asset Management LLP boosted its position in shares of Molson Coors Beverage by 17.8% during the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company's stock worth $42,829,000 after purchasing an additional 113,091 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Molson Coors Beverage Stock Up 1.3 %

Shares of NYSE:TAP traded up $0.78 during midday trading on Wednesday, reaching $62.02. The company had a trading volume of 365,441 shares, compared to its average volume of 2,024,534. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock has a market cap of $12.56 billion, a PE ratio of 11.57, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business's 50 day moving average price is $58.33 and its 200 day moving average price is $57.81.

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 for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared 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 is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio 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.