Principal Financial Group Inc. boosted its stake in Molson Coors Beverage (NYSE:TAP) by 978.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,793,058 shares of the company’s stock after acquiring an additional 3,441,313 shares during the period. Principal Financial Group Inc. owned 0.93% of Molson Coors Beverage worth $171,408,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its position in Molson Coors Beverage by 1,685.7% in the fourth quarter. Jacobi Capital Management LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 590 shares during the period. Signaturefd LLC raised its position in Molson Coors Beverage by 51.2% in the third quarter. Signaturefd LLC now owns 913 shares of the company’s stock worth $31,000 after acquiring an additional 309 shares during the period. Tompkins Financial Corp raised its position in Molson Coors Beverage by 1,592.0% in the fourth quarter. Tompkins Financial Corp now owns 846 shares of the company’s stock worth $33,000 after acquiring an additional 796 shares during the period. DB Wealth Management Group LLC bought a new stake in Molson Coors Beverage in the fourth quarter worth about $34,000. Finally, IFP Advisors Inc raised its position in Molson Coors Beverage by 33.4% in the fourth quarter. IFP Advisors Inc now owns 847 shares of the company’s stock worth $38,000 after acquiring an additional 212 shares during the period. 40.00% of the stock is currently owned by institutional investors and hedge funds.

In other Molson Coors Beverage news, Director James A. Winnefeld, Jr. acquired 1,000 shares of the stock in a transaction dated Friday, February 12th. The shares were purchased at an average price of $44.49 per share, for a total transaction of $44,490.00. Following the purchase, the director now directly owns 7,442 shares of the company’s stock, valued at $331,094.58. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.43% of the company’s stock.

NYSE:TAP opened at $45.12 on Tuesday. The company has a fifty day moving average of $49.06 and a 200 day moving average of $41.88. The firm has a market capitalization of $18.31 billion, a P/E ratio of 16.77, a P/E/G ratio of 3.27 and a beta of 1.14. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 0.52. Molson Coors Beverage has a 52 week low of $32.11 and a 52 week high of $56.10.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Wednesday, February 10th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.37). Molson Coors Beverage had a return on equity of 7.35% and a net margin of 4.86%. As a group, analysts anticipate that Molson Coors Beverage will post 4.3 EPS for the current year.

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Molson Coors Beverage from $41.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, January 14th. Wells Fargo & Company began coverage on shares of Molson Coors Beverage in a research note on Monday, December 7th. They set an “equal weight” rating and a $51.00 price objective for the company. TheStreet cut shares of Molson Coors Beverage from a “b-” rating to a “c” rating in a research note on Thursday, February 11th. Jefferies Financial Group raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $57.00 in a research note on Monday, January 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, February 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $47.86.

Molson Coors Beverage Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is headquartered in Chicago, Illinois.

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

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