ExodusPoint Capital Management LP Buys Shares of 375,016 Molson Coors Beverage (NYSE:TAP)

ExodusPoint Capital Management LP bought a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 375,016 shares of the company’s stock, valued at approximately $21,496,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after buying an additional 202 shares during the last quarter. Truvestments Capital LLC lifted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Molson Coors Beverage by 21.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after acquiring an additional 218 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TAP shares. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday. They set a “buy” rating and a $86.90 target price on the stock. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.06.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $62.02 on Thursday. 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 $12.57 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.52 and a beta of 0.81. The stock’s fifty day moving average price is $58.47 and its two-hundred day moving average price is $57.84. 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 released its quarterly 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 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s 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.