Invenomic Capital Management LP Purchases 132,744 Shares of Molson Coors Beverage (NYSE:TAP)

Invenomic Capital Management LP raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 652,121 shares of the company’s stock after buying an additional 132,744 shares during the quarter. Molson Coors Beverage comprises 1.8% of Invenomic Capital Management LP’s portfolio, making the stock its 5th biggest position. Invenomic Capital Management LP’s holdings in Molson Coors Beverage were worth $37,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Investment Management Corp of Ontario increased its stake in Molson Coors Beverage by 13.5% during the 4th quarter. Investment Management Corp of Ontario now owns 31,492 shares of the company’s stock worth $1,805,000 after purchasing an additional 3,755 shares in the last quarter. Ethic Inc. increased its position in shares of Molson Coors Beverage by 17.0% during the fourth quarter. Ethic Inc. now owns 61,944 shares of the company’s stock worth $3,551,000 after acquiring an additional 9,023 shares in the last quarter. Estuary Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the fourth quarter worth $39,052,000. Fairfax Financial Holdings Ltd. Can bought a new stake in Molson Coors Beverage in the 4th quarter valued at $68,010,000. Finally, Clark Capital Management Group Inc. boosted its stake in Molson Coors Beverage by 11.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 492,334 shares of the company’s stock worth $28,221,000 after purchasing an additional 48,819 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $54.60 on Friday. The firm’s fifty day moving average price is $59.12 and its two-hundred day moving average price is $58.42. 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 has a market cap of $11.06 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. Equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Berenberg Bank assumed coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target on the stock. Barclays reduced their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.49.

Molson Coors Beverage Company 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.