Molson Coors Beverage (NYSE:TAP) Shares Bought by Ossiam

Ossiam raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1,413.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,683 shares of the company’s stock after purchasing an additional 15,581 shares during the period. Ossiam’s holdings in Molson Coors Beverage were worth $956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Molson Coors Beverage during the 4th quarter worth $142,407,000. Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $27,660,000. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 434,250 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company’s stock worth $215,146,000 after purchasing an additional 422,515 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $21,496,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.5 %

Shares of NYSE TAP opened at $57.89 on Tuesday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $65.24. 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 company’s 50-day simple moving average is $60.10 and its 200-day simple moving average is $58.26. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was 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 research analyst reports. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays reduced their price objective on 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 raised 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 report on Friday, February 14th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently 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.