Fisher Funds Management LTD Buys New Stake in Molson Coors Beverage (NYSE:TAP)

Fisher Funds Management LTD bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 80,468 shares of the company’s stock, valued at approximately $4,604,000.

Several other hedge funds also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC boosted its stake in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter worth about $59,000. Finally, Allworth Financial LP lifted its stake in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TAP. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Morgan Stanley lifted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Stock Down 0.2 %

Shares of Molson Coors Beverage stock opened at $60.29 on Monday. The company has a fifty day moving average price of $56.41 and a 200 day moving average price of $56.63. 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 twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for 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 research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is 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 dividend yield of 3.12%. Molson Coors Beverage’s dividend payout ratio is 35.14%.

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.