Vanguard Group Inc. Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Vanguard Group Inc. raised its holdings in Molson Coors Beverage (NYSE:TAP) by 0.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,498,302 shares of the company’s stock after purchasing an additional 6,221 shares during the quarter. Vanguard Group Inc. owned 10.44% of Molson Coors Beverage worth $1,232,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Pallas Capital Advisors LLC boosted its stake in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after buying an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after acquiring an additional 202 shares during the period. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. SRS Capital Advisors Inc. grew its stake 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 period. Finally, Lindbrook Capital LLC increased its holdings in shares of Molson Coors Beverage by 21.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research analyst reports. UBS Group boosted their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $60.98 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company’s 50 day simple moving average is $58.00 and its 200 day simple moving average is $57.64. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.52 and a beta of 0.81. 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 (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.08%. Molson Coors Beverage’s payout ratio is 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.