Molson Coors Beverage (NYSE:TAP) Stock Holdings Reduced by Xponance Inc.

Xponance Inc. lowered its position in Molson Coors Beverage (NYSE:TAP) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,710 shares of the company’s stock after selling 2,186 shares during the quarter. Xponance Inc.’s holdings in Molson Coors Beverage were worth $1,512,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Molson Coors Beverage by 19.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after acquiring an additional 1,859 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after acquiring an additional 149,093 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after acquiring an additional 408 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $3,245,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP stock opened at $64.13 on Wednesday. The business’s 50-day moving average price is $65.02 and its two-hundred day moving average price is $62.27. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $13.63 billion, a PE ratio of 14.71, a P/E/G ratio of 2.22 and a beta of 0.84. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, research analysts forecast that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is 40.37%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TAP shares. Citigroup upped their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Barclays boosted their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.73.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.71% of the company’s stock.

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.