Victory Capital Management Inc. Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Victory Capital Management Inc. grew its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,437 shares of the company's stock after buying an additional 111,390 shares during the quarter. Victory Capital Management Inc. owned 0.26% of Molson Coors Beverage worth $31,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TAP. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at $48,202,000. State Street Corp grew its stake in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 434,250 shares in the last quarter. Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock valued at $29,875,000 after buying an additional 294,596 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Molson Coors Beverage by 23.2% in the third quarter. FMR LLC now owns 716,311 shares of the company's stock valued at $41,202,000 after buying an additional 134,689 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on TAP. 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 research note on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Finally, UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.27.

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Molson Coors Beverage Trading Up 4.2 %

NYSE TAP opened at $61.91 on Monday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 stock has a market cap of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. The firm's 50 day moving average price is $56.83 and its two-hundred day moving average price is $57.17.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly 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 net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Equities analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.04%. Molson Coors Beverage's payout ratio is currently 35.14%.

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.

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