Lingohr Asset Management GmbH Sells 5,598 Shares of Molson Coors Beverage (NYSE:TAP)

Lingohr Asset Management GmbH cut its stake in Molson Coors Beverage (NYSE:TAP) by 43.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,252 shares of the company’s stock after selling 5,598 shares during the period. Lingohr Asset Management GmbH’s holdings in Molson Coors Beverage were worth $412,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC grew its holdings in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. Private Trust Co. NA grew its holdings in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $58.30 on Thursday. The firm has a market capitalization of $11.81 billion, a P/E ratio of 10.90, a PEG ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $57.37 and a 200 day moving average price of $57.49. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.71 billion. Sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. 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. This represents a $1.88 dividend on an annualized basis and a yield of 3.22%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Ratings Changes

TAP has been the topic of several recent research reports. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley increased their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.67.

About Molson Coors Beverage

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.