Molson Coors Beverage (NYSE:TAP) Position Lessened by Tredje AP fonden

Tredje AP fonden cut its stake in Molson Coors Beverage (NYSE:TAP) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,888 shares of the company’s stock after selling 14,887 shares during the period. Tredje AP fonden’s holdings in Molson Coors Beverage were worth $853,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC grew its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the period. Finally, Private Trust Co. NA raised its holdings in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $59.68 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. 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 stock has a market cap of $12.09 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81. The company has a 50-day moving average of $57.17 and a two-hundred day moving average of $57.38.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm 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%. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $56.00 to $62.00 in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.67.

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.