Public Employees Retirement Association of Colorado Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Public Employees Retirement Association of Colorado raised its position in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 289.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,190 shares of the company’s stock after purchasing an additional 16,490 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Molson Coors Beverage were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after acquiring an additional 1,500,269 shares during the period. Morgan Stanley boosted its position in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after purchasing an additional 988,864 shares during the period. Invesco Ltd. increased its stake in shares of Molson Coors Beverage by 13.0% in the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock worth $196,332,000 after purchasing an additional 355,694 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after purchasing an additional 2,121,211 shares during the period. Finally, Norges Bank purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $127,337,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TAP. UBS Group reduced their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Bank of America decreased their price target on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.07.

Get Our Latest Research Report on Molson Coors Beverage

Molson Coors Beverage Stock Down 0.1 %

TAP opened at $51.90 on Tuesday. The stock has a market cap of $11.00 billion, a PE ratio of 10.38, a P/E/G ratio of 1.88 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 52 week low of $51.60 and a 52 week high of $70.90. The business’s fifty day simple moving average is $59.75 and its 200 day simple moving average is $61.78.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. As a group, research analysts expect that Molson Coors Beverage will post 5.68 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Friday, June 7th. Molson Coors Beverage’s payout ratio is currently 35.20%.

Molson Coors Beverage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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