Molson Coors Beverage (NYSE:TAP) Holdings Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,050 shares of the company’s stock after buying an additional 12,243 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Molson Coors Beverage were worth $12,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $42,000. Catalyst Capital Advisors LLC grew its holdings in shares of 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 buying an additional 428 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $59,000. Finally, Allworth Financial LP grew its holdings 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 valued at $68,000 after buying an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $60.75 on Wednesday. The company has a market cap of $12.51 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The stock has a 50-day moving average of $56.47 and a 200-day moving average of $56.75. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. 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 (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping 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 business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is 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 currently 35.14%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TAP. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Barclays boosted their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on 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. Morgan Stanley boosted their target price 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, BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $63.27.

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.