Molson Coors Beverage (NYSE:TAP) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,789,258 shares of the company’s stock after buying an additional 152,622 shares during the quarter. Invesco Ltd. owned 1.84% of Molson Coors Beverage worth $217,200,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HighTower Advisors LLC boosted its stake in Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after acquiring an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares in the last quarter. US Bancorp DE grew its stake in Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management bought a new stake in Molson Coors Beverage in the fourth quarter valued at about $871,000. Finally, Wilsey Asset Management Inc. raised its stake in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after buying an additional 8,679 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $60.63 on Friday. The stock has a market cap of $12.28 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $59.47 and its 200 day simple moving average is $58.14. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $67.67.

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

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Barclays dropped their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock 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.