Molson Coors Beverage (NYSE:TAP) Stock Position Increased by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 880,537 shares of the company’s stock after buying an additional 42,530 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Molson Coors Beverage were worth $50,472,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Clark Estates Inc. NY grew its stake in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after acquiring an additional 563 shares in the last quarter. Unified Investment Management purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth approximately $871,000. Wilsey Asset Management Inc. increased its position in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after acquiring an additional 8,679 shares in the last quarter. Finally, Qsemble Capital Management LP increased its position in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.7 %

TAP opened at $59.37 on Thursday. The firm’s 50-day simple moving average is $57.01 and its 200-day simple moving average is $57.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TAP shares. Barclays lifted their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. UBS Group raised their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Morgan Stanley raised their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.27.

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.