Alliancebernstein L.P. Sells 100,116 Shares of Molson Coors Beverage (NYSE:TAP)

Alliancebernstein L.P. trimmed its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 30.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,602 shares of the company's stock after selling 100,116 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Molson Coors Beverage worth $13,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TAP. 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 purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% in 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 during the period. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of 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 during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after acquiring an additional 489 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 1.6 %

Shares of Molson Coors Beverage stock traded down $1.00 during trading hours on Tuesday, hitting $59.66. The company's stock had a trading volume of 353,598 shares, compared to its average volume of 2,070,154. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $66.87. 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 company has a market capitalization of $12.09 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The stock has a 50 day moving average of $59.62 and a 200 day moving average of $58.19.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its 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 return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Analysts predict that Molson Coors Beverage will post 6.35 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 14th. Stockholders of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is 35.14%.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Monday. Barclays reduced their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $64.39.

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.