Ritholtz Wealth Management Has $332,000 Stake in Molson Coors Beverage (NYSE:TAP)

Ritholtz Wealth Management raised its holdings in Molson Coors Beverage (NYSE:TAPFree Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,427 shares of the company’s stock after acquiring an additional 269 shares during the period. Ritholtz Wealth Management’s holdings in Molson Coors Beverage were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares during the period. State Street Corp lifted its holdings in shares of Molson Coors Beverage by 1.7% in the first quarter. State Street Corp now owns 8,727,747 shares of the company’s stock valued at $465,887,000 after purchasing an additional 143,757 shares in the last quarter. Capital International Investors lifted its holdings in shares of Molson Coors Beverage by 1.0% in the first quarter. Capital International Investors now owns 4,721,084 shares of the company’s stock valued at $252,011,000 after purchasing an additional 49,044 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 1.0% in the first quarter. Geode Capital Management LLC now owns 3,859,484 shares of the company’s stock valued at $198,998,000 after purchasing an additional 38,966 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after purchasing an additional 1,500,269 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.41% of the stock is owned by company insiders.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $67.33 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $63.75 and its two-hundred day moving average price is $61.94. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 2.35 and a beta of 0.84. Molson Coors Beverage has a 12-month low of $51.45 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAPGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.61%. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Analysts Set New Price Targets

TAP has been the topic of a number of research reports. Barclays boosted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Piper Sandler began coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.67.

Read Our Latest Report on Molson Coors Beverage

About Molson Coors Beverage

(Free Report)

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.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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