Molson Coors Beverage (NYSE:TAP) Shares Acquired by River Road Asset Management LLC

River Road Asset Management LLC lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 94.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 843,373 shares of the company’s stock after acquiring an additional 410,467 shares during the period. River Road Asset Management LLC owned 0.39% of Molson Coors Beverage worth $51,623,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Quarry LP purchased a new position in Molson Coors Beverage during the second quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new position in Molson Coors Beverage during the fourth quarter worth about $29,000. Stone House Investment Management LLC purchased a new position in Molson Coors Beverage during the third quarter worth about $32,000. Allworth Financial LP lifted its position in Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after buying an additional 400 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Molson Coors Beverage by 85.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $33,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded up $0.28 during mid-day trading on Wednesday, hitting $63.54. The company had a trading volume of 1,817,093 shares, compared to its average volume of 1,660,575. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.26 and a beta of 0.84. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The firm’s 50 day simple moving average is $64.75 and its two-hundred day simple moving average is $62.20.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.77%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is presently 40.37%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Barclays raised their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Citigroup raised their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Piper Sandler initiated coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.73.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is owned by company insiders.

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.