Shelton Capital Management Reduces Stock Position in Molson Coors Beverage (NYSE:TAP)

Shelton Capital Management trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,192 shares of the company’s stock after selling 208 shares during the quarter. Shelton Capital Management’s holdings in Molson Coors Beverage were worth $1,043,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC raised its stake 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 valued at $34,000 after acquiring an additional 202 shares during the period. 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 valued at $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. raised its position 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 purchasing an additional 203 shares during the period. Private Trust Co. NA lifted its stake in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after buying an additional 489 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 3.1 %

Shares of NYSE TAP opened at $60.34 on Thursday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $68.15. The business has a fifty day moving average price of $59.19 and a 200 day moving average price of $58.06. The stock has a market capitalization of $12.22 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent analyst reports. Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target on the stock. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.39.

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.