Catalyst Capital Advisors LLC Increases Stock Position in Molson Coors Beverage (NYSE:TAP)

Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage (NYSE:TAP) by 143.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 726 shares of the company’s stock after purchasing an additional 428 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Molson Coors Beverage were worth $42,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TAP. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth $48,202,000. State Street Corp raised its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after buying an additional 294,596 shares in the last quarter. AustralianSuper Pty Ltd raised its position 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 buying an additional 225,296 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Molson Coors Beverage by 92.8% during the 3rd quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock valued at $24,966,000 after buying an additional 208,974 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Barclays upped their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. 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 report on Friday, February 14th. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $60.55 on Wednesday. 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 company has a market capitalization of $12.47 billion, a P/E ratio of 13.64, a P/E/G ratio of 2.07 and a beta of 0.85. The company’s 50-day simple moving average is $56.46 and its two-hundred day simple moving average is $56.47. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. 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 dividend payout ratio is presently 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.