Schroder Investment Management Group Decreases Stake in Molson Coors Beverage (NYSE:TAP)

Schroder Investment Management Group lessened its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,805,893 shares of the company's stock after selling 15,471 shares during the quarter. Schroder Investment Management Group owned 0.88% of Molson Coors Beverage worth $103,514,000 at the end of the most recent reporting period.

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

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TAP shares. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday. They issued a "buy" rating and a $86.90 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $65.06.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP traded up $0.66 during trading on Thursday, reaching $62.61. The company had a trading volume of 3,226,671 shares, compared to its average volume of 2,034,799. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock's fifty day moving average price is $58.47 and its 200 day moving average price is $57.84. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.00%. 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.