Molson Coors Beverage (NYSE:TAP) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its position in Molson Coors Beverage (NYSE:TAP) by 4.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 476,103 shares of the company’s stock after buying an additional 18,882 shares during the quarter. Royal London Asset Management Ltd. owned about 0.23% of Molson Coors Beverage worth $27,290,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TAP. State Street Corp increased its stake in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Raymond James Financial Inc. acquired a new position in Molson Coors Beverage in the 4th quarter valued at $27,660,000. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after buying an additional 434,250 shares during the period. Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after purchasing an additional 294,596 shares during the period. Finally, LBP AM SA grew its stake in shares of Molson Coors Beverage by 1,553.3% during the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock worth $11,846,000 after purchasing an additional 194,164 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $58.72 on Friday. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. 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 company’s 50-day moving average is $57.56 and its two-hundred day moving average is $57.53. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 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 company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $56.00 to $62.00 in a research note on Thursday, March 13th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Morgan Stanley upped their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $63.67.

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.