Lbp Am Sa Raises Position in Molson Coors Beverage (NYSE:TAP)

Lbp Am Sa lifted its stake in Molson Coors Beverage (NYSE:TAP) by 1,553.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 206,664 shares of the company’s stock after purchasing an additional 194,164 shares during the period. Lbp Am Sa owned approximately 0.10% of Molson Coors Beverage worth $11,846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clark Estates Inc. NY lifted its stake in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $2,046,000 after purchasing an additional 563 shares during the period. Unified Investment Management acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $871,000. US Bancorp DE lifted its stake in shares of Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after purchasing an additional 9,825 shares during the period. Finally, Wilsey Asset Management Inc. lifted its stake 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 valued at $31,557,000 after purchasing an additional 8,679 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $59.68 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a 50 day moving average price of $57.08 and a 200 day moving average price of $57.31. The company 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. 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 released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.71 billion. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Ratings Changes

A number of brokerages have issued reports on TAP. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Morgan Stanley lifted 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. Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $56.00 to $62.00 in a research report on Thursday. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, BNP Paribas began 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 for the company. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $63.67.

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.