Zurcher Kantonalbank Zurich Cantonalbank Purchases 60,383 Shares of Molson Coors Beverage (NYSE:TAP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,420 shares of the company’s stock after buying an additional 60,383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.13% of Molson Coors Beverage worth $15,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. Clark Estates Inc. NY raised its position 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 acquiring an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the period. Unified Investment Management bought a new stake in Molson Coors Beverage in the fourth quarter worth approximately $871,000. Wilsey Asset Management Inc. lifted its stake in 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 buying an additional 8,679 shares during the period. Finally, Qsemble Capital Management LP boosted its holdings in shares of Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after buying an additional 9,234 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price target 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. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Bank of America raised 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 research note on Friday, December 6th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Trading Down 1.7 %

Shares of Molson Coors Beverage stock opened at $59.37 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $57.01 and a 200 day simple moving average of $57.29. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a market capitalization of $12.03 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results 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. 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. On average, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

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