QRG Capital Management Inc. Increases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

QRG Capital Management Inc. boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,876 shares of the company’s stock after purchasing an additional 3,430 shares during the period. QRG Capital Management Inc.’s holdings in Molson Coors Beverage were worth $3,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TAP. State Street Corp raised its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after acquiring an additional 434,250 shares during the last quarter. River Road Asset Management LLC raised its position in Molson Coors Beverage by 1.8% in the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after purchasing an additional 29,315 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $48,202,000. Finally, RWC Asset Management LLP grew its holdings in shares of Molson Coors Beverage by 17.8% during the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock worth $42,829,000 after purchasing an additional 113,091 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

TAP stock opened at $61.25 on Friday. The business’s 50-day moving average is $56.64 and its two-hundred day moving average is $56.91. 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 firm has a market capitalization of $12.45 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. 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 3.07%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TAP. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Barclays boosted their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Finally, BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $63.27.

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.