164,341 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd purchased a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 164,341 shares of the company’s stock, valued at approximately $9,420,000. Molson Coors Beverage comprises about 8.7% of Ranmore Fund Management Ltd’s portfolio, making the stock its 5th biggest holding. Ranmore Fund Management Ltd owned about 0.08% of Molson Coors Beverage as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TAP. HighTower Advisors LLC lifted its position in shares of Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after acquiring an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the period. US Bancorp DE lifted its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management acquired a new stake in Molson Coors Beverage in the 4th quarter valued at $871,000. Finally, Wilsey Asset Management Inc. raised its holdings in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after buying an additional 8,679 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 2.0 %

Shares of TAP opened at $61.19 on Monday. The stock has a market capitalization of $12.40 billion, a P/E ratio of 11.44, a PEG ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $58.76 and a two-hundred day simple moving average of $57.94.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 35.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TAP. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.06.

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.