RWC Asset Management LLP Purchases 113,091 Shares of Molson Coors Beverage (NYSE:TAP)

RWC Asset Management LLP grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 747,184 shares of the company’s stock after acquiring an additional 113,091 shares during the period. Molson Coors Beverage comprises 2.1% of RWC Asset Management LLP’s portfolio, making the stock its 11th largest position. RWC Asset Management LLP owned 0.36% of Molson Coors Beverage worth $42,829,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC raised 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 acquiring an additional 428 shares in the last quarter. True Wealth Design LLC purchased a new stake in Molson Coors Beverage in the third quarter worth $59,000. Finally, Allworth Financial LP boosted its holdings in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

TAP opened at $60.29 on Monday. The company has a 50 day simple moving average of $56.41 and a two-hundred day simple moving average of $56.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a market cap of $12.42 billion, a P/E ratio of 11.27, a PEG ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results 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. The company 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 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 announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TAP shares. Morgan Stanley raised their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. 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 for the company. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. One equities 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.27.

About Molson Coors Beverage

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.