Molson Coors Beverage (NYSE:TAP) Shares Acquired by Brandes Investment Partners LP

Brandes Investment Partners LP increased its stake in Molson Coors Beverage (NYSE:TAP) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,003 shares of the company’s stock after acquiring an additional 547 shares during the period. Brandes Investment Partners LP’s holdings in Molson Coors Beverage were worth $4,127,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after buying an additional 9,510 shares in the last quarter. Victory Capital Management Inc. lifted its position in Molson Coors Beverage by 92.8% during the third quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock valued at $24,966,000 after buying an additional 208,974 shares in the last quarter. Huntington National Bank lifted its position in Molson Coors Beverage by 27.3% during the third quarter. Huntington National Bank now owns 1,508 shares of the company’s stock valued at $87,000 after buying an additional 323 shares in the last quarter. Metis Global Partners LLC lifted its position in Molson Coors Beverage by 36.5% during the third quarter. Metis Global Partners LLC now owns 16,704 shares of the company’s stock valued at $961,000 after buying an additional 4,469 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Molson Coors Beverage by 4.7% during the third quarter. CIBC Asset Management Inc now owns 31,049 shares of the company’s stock valued at $1,786,000 after buying an additional 1,388 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $56.00 to $62.00 in a research report on Thursday. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.67.

Molson Coors Beverage Stock Up 1.6 %

TAP stock opened at $59.68 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a fifty day moving average price of $57.17 and a two-hundred day moving average price of $57.38. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.71 billion. Research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. 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%.

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.