RWC Asset Management LLP Raises Holdings in Molson Coors Beverage (NYSE:TAP)

RWC Asset Management LLP increased its position in Molson Coors Beverage (NYSE:TAP) by 17.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 747,184 shares of the company’s stock after purchasing an additional 113,091 shares during the period. Molson Coors Beverage accounts for 2.1% of RWC Asset Management LLP’s investment portfolio, making the stock its 11th largest holding. RWC Asset Management LLP’s holdings in Molson Coors Beverage were worth $42,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC boosted its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. True Wealth Design LLC purchased a new position in Molson Coors Beverage in the third quarter worth $59,000. Finally, Allworth Financial LP grew 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 worth $68,000 after acquiring an additional 297 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 0.2 %

Shares of NYSE TAP opened at $60.29 on Monday. The company 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. The stock’s 50 day simple moving average is $56.41 and its 200 day simple moving average is $56.63. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. 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 (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) 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 company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Barclays increased their price target on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.27.

About Molson Coors Beverage

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.