Molson Coors Beverage (NYSE:TAP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,498,302 shares of the company's stock after purchasing an additional 6,221 shares during the period. Vanguard Group Inc. owned approximately 10.44% of Molson Coors Beverage worth $1,232,283,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TAP. Commerce Bank bought a new stake in Molson Coors Beverage in the third quarter worth about $209,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $2,152,000. Cerity Partners LLC lifted its stake in shares of Molson Coors Beverage by 200.2% during the 3rd quarter. Cerity Partners LLC now owns 92,000 shares of the company's stock worth $5,292,000 after acquiring an additional 61,350 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Molson Coors Beverage by 10.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,872 shares of the company's stock valued at $1,374,000 after acquiring an additional 2,293 shares during the period. Finally, D.A. Davidson & CO. grew its position in Molson Coors Beverage by 7.8% in the 3rd quarter. D.A. Davidson & CO. now owns 27,485 shares of the company's stock valued at $1,581,000 after acquiring an additional 1,980 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 0.9 %

Shares of TAP stock traded up $0.52 during mid-day trading on Monday, hitting $61.05. 666,965 shares of the stock traded hands, compared to its average volume of 2,023,498. The stock's fifty day moving average is $58.11 and its two-hundred day moving average is $57.72. 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 $69.18. The stock has a market cap of $12.37 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.52 and a beta of 0.81.

Remove Ads

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.71 billion. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.08%. 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%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TAP shares. 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 note on Friday, February 14th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.60.

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.