Molson Coors Beverage (NYSE:TAP) Stock Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Molson Coors Beverage (NYSE:TAP) by 31.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 410,181 shares of the company’s stock after buying an additional 97,198 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Molson Coors Beverage worth $25,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Pacer Advisors Inc. increased its stake in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock worth $131,211,000 after acquiring an additional 2,121,211 shares during the last quarter. AQR Capital Management LLC grew its stake in Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after purchasing an additional 1,500,269 shares in the last quarter. Morgan Stanley increased its position in Molson Coors Beverage by 40.2% in the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after purchasing an additional 988,864 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Molson Coors Beverage by 57.4% during the 3rd quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock worth $78,446,000 after purchasing an additional 449,971 shares in the last quarter. Finally, River Road Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 94.8% during the 4th quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock valued at $51,623,000 after buying an additional 410,467 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.3 %

TAP opened at $57.08 on Thursday. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The business has a 50 day moving average of $65.07 and a 200-day moving average of $62.40. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.19 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.66 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 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.08%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s payout ratio is currently 40.37%.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TAP. UBS Group dropped their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $65.87.

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.