Molson Coors Beverage (NYSE:TAP) Position Raised by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its stake in Molson Coors Beverage (NYSE:TAP) by 9.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,634 shares of the company’s stock after buying an additional 1,165 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Molson Coors Beverage were worth $776,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage during the third quarter valued at about $35,000. Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage during the third quarter valued at about $42,000. Catalyst Capital Advisors LLC raised 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 purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 2.8 %

Shares of TAP opened at $59.56 on Wednesday. The business’s 50-day moving average price is $56.69 and its 200 day moving average price is $56.99. The stock has a market capitalization of $12.07 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.27.

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.