Victory Capital Management Inc. Has $31.26 Million Stake in Molson Coors Beverage (NYSE:TAP)

Victory Capital Management Inc. grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 25.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 545,437 shares of the company’s stock after buying an additional 111,390 shares during the period. Victory Capital Management Inc.’s holdings in Molson Coors Beverage were worth $31,264,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Clark Estates Inc. NY lifted its stake in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after buying an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after buying an additional 563 shares during the period. Unified Investment Management bought a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $871,000. Wilsey Asset Management Inc. lifted its stake in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after buying an additional 8,679 shares during the period. Finally, Qsemble Capital Management LP lifted its stake in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after buying an additional 9,234 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP opened at $61.91 on Monday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. 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 company’s 50 day simple moving average is $56.83 and its 200-day simple moving average is $57.17. The stock has a market capitalization of $12.54 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.71 billion. Sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the subject of several research reports. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley increased their price target 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. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, UBS Group increased their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.27.

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.