Molson Coors Beverage (NYSE:TAP) Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Molson Coors Beverage (NYSE:TAP) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,730 shares of the company’s stock after purchasing an additional 3,297 shares during the quarter. Federated Hermes Inc.’s holdings in Molson Coors Beverage were worth $6,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TAP. Tennessee Valley Asset Management Partners bought a new stake in shares of Molson Coors Beverage during the 4th quarter worth about $29,000. Stone House Investment Management LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $32,000. Allworth Financial LP boosted its stake in shares of Molson Coors Beverage by 179.4% during the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $84,000. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Molson Coors Beverage by 179.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,395 shares of the company’s stock worth $85,000 after acquiring an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on TAP shares. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Citigroup downgraded Molson Coors Beverage from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $66.00 to $56.00 in a research note on Wednesday. Barclays boosted their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, Piper Sandler initiated coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.07.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred 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 directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Down 1.4 %

Molson Coors Beverage stock opened at $62.82 on Friday. The business has a 50 day moving average price of $65.13 and a two-hundred day moving average price of $62.31. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.22 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.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

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.