Deutsche Bank AG lifted its holdings in Molson Coors Beverage (NYSE:TAP – Get Rating) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 954,749 shares of the company’s stock after purchasing an additional 106,543 shares during the period. Deutsche Bank AG owned about 0.44% of Molson Coors Beverage worth $49,189,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC grew its stake in shares of Molson Coors Beverage by 1,781.3% in the 4th quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares during the last quarter. Red Tortoise LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $38,000. Lazard Asset Management LLC grew its stake in shares of Molson Coors Beverage by 96.4% in the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock worth $40,000 after purchasing an additional 373 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $42,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 76.24% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TAP. Wedbush lifted their price objective on shares of Molson Coors Beverage from $53.00 to $60.00 in a research note on Thursday, May 4th. Citigroup began coverage on shares of Molson Coors Beverage in a report on Thursday, February 16th. They issued a “neutral” rating and a $55.00 target price for the company. Wells Fargo & Company raised their target price on shares of Molson Coors Beverage from $45.00 to $48.00 and gave the stock an “underweight” rating in a report on Wednesday, February 22nd. TheStreet upgraded shares of Molson Coors Beverage from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, Jefferies Financial Group raised their target price on shares of Molson Coors Beverage from $74.00 to $75.00 in a report on Tuesday, June 6th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $60.19.
Insider Activity
Molson Coors Beverage Stock Up 0.1 %
Molson Coors Beverage stock opened at $66.46 on Friday. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of -55.85, a P/E/G ratio of 3.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.49. Molson Coors Beverage has a fifty-two week low of $46.69 and a fifty-two week high of $67.11. The firm has a fifty day moving average price of $60.32 and a two-hundred day moving average price of $55.00.
Molson Coors Beverage (NYSE:TAP – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.23 billion. Molson Coors Beverage had a negative net margin of 1.97% and a positive return on equity of 7.16%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. As a group, analysts forecast that Molson Coors Beverage will post 4.41 earnings per share for the current year.
Molson Coors Beverage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, June 1st. Molson Coors Beverage’s dividend payout ratio is currently -137.81%.
Molson Coors Beverage Profile
Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.
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