Russell Investments Group Ltd. Has $19.01 Million Stake in Molson Coors Beverage (NYSE:TAP)

Russell Investments Group Ltd. grew its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,704 shares of the company's stock after purchasing an additional 5,943 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Molson Coors Beverage worth $19,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its position in Molson Coors Beverage by 12.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 58,767 shares of the company's stock worth $3,380,000 after buying an additional 6,418 shares during the period. Coldstream Capital Management Inc. raised its stake in Molson Coors Beverage by 26.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,901 shares of the company's stock worth $343,000 after purchasing an additional 1,246 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Molson Coors Beverage by 38.4% in the 3rd quarter. Toronto Dominion Bank now owns 94,500 shares of the company's stock valued at $5,436,000 after purchasing an additional 26,198 shares during the period. Arete Wealth Advisors LLC grew its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. Arete Wealth Advisors LLC now owns 11,705 shares of the company's stock worth $674,000 after purchasing an additional 912 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in shares of Molson Coors Beverage by 148.2% during the third quarter. Virtu Financial LLC now owns 11,801 shares of the company's stock worth $679,000 after purchasing an additional 7,046 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent research reports. UBS Group increased their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $64.39.

Molson Coors Beverage Trading Down 2.2 %

NYSE TAP traded down $1.33 during trading hours on Tuesday, reaching $59.34. The company's stock had a trading volume of 506,928 shares, compared to its average volume of 2,070,697. The firm has a fifty day simple moving average of $59.62 and a 200-day simple moving average of $58.19. 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 52 week low of $49.19 and a 52 week high of $66.87. The stock has a market cap of $12.02 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is 35.14%.

Molson Coors Beverage Company 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.