Barclays PLC Grows Holdings in Molson Coors Beverage (NYSE:TAP)

Barclays PLC raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 528,469 shares of the company’s stock after purchasing an additional 9,389 shares during the quarter. Barclays PLC’s holdings in Molson Coors Beverage were worth $30,290,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TAP. Truvestments Capital LLC lifted its stake in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in 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. SRS Capital Advisors Inc. lifted its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $58.72 on Friday. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.69. 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 business has a 50 day simple moving average of $60.01 and a 200-day simple moving average of $58.22. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $65.24.

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, 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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced 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. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Barclays cut their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. UBS Group boosted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Berenberg Bank started coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.39.

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.