80,468 Shares in Molson Coors Beverage (NYSE:TAP) Acquired by Fisher Funds Management LTD

Fisher Funds Management LTD bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 80,468 shares of the company’s stock, valued at approximately $4,604,000.

A number of other institutional investors also recently added to or reduced their stakes in TAP. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage in the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the period. True Wealth Design LLC bought a new stake in Molson Coors Beverage during the third quarter worth approximately $59,000. Finally, Allworth Financial LP raised its holdings in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $60.29 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm’s 50 day simple moving average is $56.41 and its 200-day simple moving average is $56.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market cap of $12.42 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, equities research 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 will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. Molson Coors Beverage’s payout ratio is currently 35.14%.

Molson Coors Beverage 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.