Hancock Whitney Corp Acquires 5,119 Shares of Molson Coors Beverage (NYSE:TAP)

Hancock Whitney Corp lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 33.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,478 shares of the company’s stock after buying an additional 5,119 shares during the quarter. Hancock Whitney Corp’s holdings in Molson Coors Beverage were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 39.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 13,325 shares of the company’s stock valued at $764,000 after purchasing an additional 3,765 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Molson Coors Beverage by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 370,690 shares of the company’s stock valued at $21,249,000 after buying an additional 2,745 shares during the period. TD Waterhouse Canada Inc. grew its stake in Molson Coors Beverage by 3.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company’s stock worth $402,000 after acquiring an additional 249 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Molson Coors Beverage by 245.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,808 shares of the company’s stock worth $1,193,000 after acquiring an additional 14,791 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at approximately $1,335,000. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TAP has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Monday, April 14th. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 price target on the stock. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays dropped their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Morgan Stanley boosted 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. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $64.39.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $56.82 on Friday. The company has a 50 day moving average price of $59.96 and a 200 day moving average price of $58.31. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $64.66. 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 market capitalization of $11.51 billion, a P/E ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.69.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.31%. Molson Coors Beverage’s dividend payout ratio is currently 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.