Molson Coors Beverage (NYSE:TAP) Position Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 245.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,808 shares of the company's stock after purchasing an additional 14,791 shares during the period. Tower Research Capital LLC TRC's holdings in Molson Coors Beverage were worth $1,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TAP. Mirabella Financial Services LLP purchased a new stake in Molson Coors Beverage during the fourth quarter worth $1,335,000. MetLife Investment Management LLC raised its stake in shares of Molson Coors Beverage by 1.1% during the 4th quarter. MetLife Investment Management LLC now owns 46,162 shares of the company's stock worth $2,646,000 after buying an additional 494 shares during the last quarter. Natixis boosted its position in shares of Molson Coors Beverage by 117.5% in the 4th quarter. Natixis now owns 46,337 shares of the company's stock worth $2,656,000 after buying an additional 25,036 shares in the last quarter. Norinchukin Bank The grew its stake in Molson Coors Beverage by 8.2% in the 4th quarter. Norinchukin Bank The now owns 7,762 shares of the company's stock valued at $445,000 after acquiring an additional 588 shares during the last quarter. Finally, Ossiam lifted its holdings in shares of Molson Coors Beverage by 1,413.9% in the fourth quarter. Ossiam now owns 16,683 shares of the company's stock valued at $956,000 after purchasing an additional 15,581 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.4 %

TAP traded up $0.25 on Tuesday, reaching $56.95. 967,390 shares of the company's stock were exchanged, compared to its average volume of 2,079,518. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66. The company's 50 day moving average is $59.89 and its 200-day moving average is $58.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is 35.14%.

Wall Street Analyst Weigh In

TAP has been the subject of several research reports. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Tuesday. UBS Group upped their target price 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. Finally, StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.