Geode Capital Management LLC Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Geode Capital Management LLC increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,291,048 shares of the company’s stock after buying an additional 54,867 shares during the quarter. Geode Capital Management LLC owned about 2.08% of Molson Coors Beverage worth $245,308,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. Private Trust Co. NA increased its position in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after buying an additional 489 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on TAP. JPMorgan Chase & Co. lowered their target price on shares of 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. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research report on Wednesday. They set a “buy” rating and a $86.90 price objective for the company. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays decreased their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.06.

Molson Coors Beverage Trading Down 2.0 %

NYSE TAP opened at $61.19 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a 50 day moving average of $58.76 and a two-hundred day moving average of $57.92. The stock has a market capitalization of $12.40 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted 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. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal 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 is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.07%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Molson Coors Beverage Company 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.