Cypress Capital Group Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

Cypress Capital Group lessened its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 31.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,345 shares of the company's stock after selling 5,669 shares during the period. Cypress Capital Group's holdings in Molson Coors Beverage were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Molson Coors Beverage by 25.7% during the fourth quarter. Victory Capital Management Inc. now owns 545,437 shares of the company's stock worth $31,264,000 after buying an additional 111,390 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Molson Coors Beverage by 9.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,634 shares of the company's stock worth $776,000 after buying an additional 1,165 shares during the period. Scott & Selber Inc. boosted its stake in shares of Molson Coors Beverage by 72.5% during the fourth quarter. Scott & Selber Inc. now owns 41,610 shares of the company's stock worth $2,385,000 after buying an additional 17,486 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Molson Coors Beverage by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock worth $96,562,000 after buying an additional 33,234 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Molson Coors Beverage by 6.7% during the fourth quarter. State of Michigan Retirement System now owns 65,670 shares of the company's stock worth $3,764,000 after buying an additional 4,100 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

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Wall Street Analysts Forecast Growth

TAP has been the subject of several analyst reports. UBS Group increased their price target 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. 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 reissued a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and increased their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, ten have assigned 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 a consensus price target of $63.27.

Molson Coors Beverage Trading Up 4.2 %

NYSE TAP traded up $2.51 during mid-day trading on Friday, reaching $61.91. 3,101,163 shares of the stock were exchanged, compared to its average volume of 1,918,382. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business's fifty day simple moving average is $56.83 and its 200 day simple moving average is $57.15. The stock has a market capitalization of $12.54 billion, a PE ratio of 11.57, a PEG 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 (NYSE:TAP - Get Free Report) last announced 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 net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage's payout ratio is currently 35.14%.

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.