Molson Coors Beverage (NYSE:TAP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,218 shares of the company’s stock after acquiring an additional 12,945 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.14% of Molson Coors Beverage worth $18,866,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Molson Coors Beverage during the second quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $32,000. Steward Partners Investment Advisory LLC grew its position in shares of Molson Coors Beverage by 85.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TAP shares. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday. Citigroup upped their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays upped their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.73.

Molson Coors Beverage Stock Up 0.5 %

Molson Coors Beverage stock opened at $63.88 on Friday. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market cap of $13.78 billion, a PE ratio of 14.65, a P/E/G ratio of 2.21 and a beta of 0.84. The stock’s fifty day moving average is $64.90 and its two-hundred day moving average is $62.22.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts expect that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.76%. Molson Coors Beverage’s dividend payout ratio is 40.37%.

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.