Barclays PLC Acquires 9,389 Shares of Molson Coors Beverage (NYSE:TAP)

Barclays PLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 528,469 shares of the company’s stock after acquiring an additional 9,389 shares during the quarter. Barclays PLC owned approximately 0.26% of Molson Coors Beverage worth $30,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Truvestments Capital LLC raised its holdings in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the period. Private Trust Co. NA lifted its holdings in 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 buying an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after acquiring an additional 489 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP opened at $58.72 on Friday. The firm has a fifty day simple moving average of $60.01 and a two-hundred day simple moving average of $58.22. The firm has a market cap of $11.90 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.69. 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 has a 1-year low of $49.19 and a 1-year high of $65.24.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.20%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Monday, April 14th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. UBS Group boosted their price objective 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. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price for the company. Finally, Citigroup upgraded 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. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.39.

Molson Coors Beverage Company 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.