Rhumbline Advisers trimmed its stake in Molson Coors Beverage (NYSE:TAP – Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,306 shares of the company’s stock after selling 6,202 shares during the quarter. Rhumbline Advisers’ holdings in Molson Coors Beverage were worth $18,589,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $35,000. Gladius Capital Management LP bought a new stake in Molson Coors Beverage during the third quarter worth $42,000. True Wealth Design LLC bought a new stake in Molson Coors Beverage during the third quarter worth $59,000. Allworth Financial LP lifted its stake in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 78.46% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on TAP shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. Finally, Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.27.
View Our Latest Stock Report on TAP
Molson Coors Beverage Trading Down 0.2 %
Shares of Molson Coors Beverage stock opened at $60.29 on Friday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $12.42 billion, a PE ratio of 11.27, a PEG ratio of 1.51 and a beta of 0.85. The firm has a 50-day moving average of $56.41 and a 200-day moving average of $56.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping 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 company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.
Molson Coors Beverage Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.12%. Molson Coors Beverage’s payout ratio is currently 32.90%.
Molson Coors Beverage Company Profile
(Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Molson Coors Beverage and related companies with MarketBeat.com’s FREE daily email newsletter.
