Sterling Capital Management LLC Buys 3,480 Shares of Molson Coors Beverage (NYSE:TAP)

Sterling Capital Management LLC grew its stake in Molson Coors Beverage (NYSE:TAP) by 52.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,153 shares of the company’s stock after acquiring an additional 3,480 shares during the quarter. Sterling Capital Management LLC’s holdings in Molson Coors Beverage were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TAP. Geode Capital Management LLC increased its stake in Molson Coors Beverage by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock valued at $245,308,000 after purchasing an additional 54,867 shares in the last quarter. Invesco Ltd. raised its stake in Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock worth $217,200,000 after buying an additional 152,622 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 acquiring an additional 434,250 shares in the last quarter. Norges Bank acquired a new position in Molson Coors Beverage in the fourth quarter valued at about $142,407,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after acquiring an additional 33,234 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Monday. Finally, Morgan Stanley upped their price target on shares of 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. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.39.

Molson Coors Beverage Trading Up 0.0 %

Shares of TAP stock opened at $58.72 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $65.24. The company has a market cap of $11.90 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.69. The stock’s fifty day moving average price is $59.92 and its two-hundred day moving average price is $58.21.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was 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 yield of 3.20%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

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.