Federated Hermes Inc. Has $6.47 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Federated Hermes Inc. lifted its stake in Molson Coors Beverage (NYSE:TAP) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,730 shares of the company’s stock after acquiring an additional 3,297 shares during the quarter. Federated Hermes Inc.’s holdings in Molson Coors Beverage were worth $6,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMPACTfolio LLC increased its position in Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Syntax Advisors LLC increased its position in Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after buying an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Molson Coors Beverage by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after buying an additional 196 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Molson Coors Beverage by 4.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock worth $317,000 after buying an additional 213 shares during the last quarter. Finally, Seed Wealth Management Inc. increased its position in Molson Coors Beverage by 7.6% during the fourth quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock worth $219,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.4 %

Shares of NYSE:TAP opened at $62.82 on Friday. The company has a fifty day moving average of $65.13 and a 200-day moving average of $62.31. The company has a market capitalization of $13.36 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.80%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on TAP. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Citigroup downgraded Molson Coors Beverage from a “neutral” rating to a “sell” rating and decreased their target price for the company from $66.00 to $56.00 in a research report on Wednesday. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.07.

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.