River Road Asset Management LLC Sells 3,930 Shares of Molson Coors Beverage (NYSE:TAP)

River Road Asset Management LLC cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,673,311 shares of the company’s stock after selling 3,930 shares during the quarter. Molson Coors Beverage makes up approximately 1.3% of River Road Asset Management LLC’s holdings, making the stock its 21st biggest position. River Road Asset Management LLC owned about 0.81% of Molson Coors Beverage worth $95,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $42,000. Catalyst Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the period. Finally, Private Trust Co. NA increased its stake in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after buying an additional 276 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $62.97 on Tuesday. The stock has a 50 day moving average price of $56.83 and a 200 day moving average price of $57.17. The firm has a market capitalization of $12.76 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.52 and a beta of 0.81. 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 has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.99%. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Citigroup raised 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 report on Wednesday, February 5th. UBS Group increased their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target 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.