Private Trust Co. NA Grows Position in Molson Coors Beverage (NYSE:TAP)

Private Trust Co. NA raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 53.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 796 shares of the company’s stock after buying an additional 276 shares during the quarter. Private Trust Co. NA’s holdings in Molson Coors Beverage were worth $46,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TAP. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter worth $48,202,000. State Street Corp grew its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 buying an additional 434,250 shares in the last quarter. Invenomic Capital Management LP boosted its position in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after acquiring an additional 294,596 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 92.8% during the 3rd quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock valued at $24,966,000 after acquiring an additional 208,974 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $59.31 on Thursday. 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 stock has a fifty day moving average price of $56.71 and a 200 day moving average price of $57.04. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a market cap of $12.02 billion, a PE ratio of 11.09, a P/E/G ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. 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 3.17%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Barclays boosted their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Morgan Stanley upped their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.27.

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.