Empirical Finance LLC Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Empirical Finance LLC boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 147.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,899 shares of the company’s stock after purchasing an additional 9,464 shares during the period. Empirical Finance LLC’s holdings in Molson Coors Beverage were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $48,202,000. State Street Corp increased its position in Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Randolph Co Inc bought a new position in Molson Coors Beverage in the third quarter valued at about $21,754,000. Invenomic Capital Management LP boosted its position in Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after purchasing an additional 294,596 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of Molson Coors Beverage by 149.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock valued at $21,652,000 after purchasing an additional 225,296 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TAP. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, BNP Paribas initiated coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.36.

Molson Coors Beverage Trading Down 1.2 %

Molson Coors Beverage stock opened at $53.60 on Tuesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm’s 50 day moving average price is $56.89 and its 200-day moving average price is $56.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market cap of $11.04 billion, a P/E ratio of 12.07, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.28%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Molson Coors Beverage Company 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.