Molson Coors Beverage (NYSE:TAP) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,040 shares of the company's stock after selling 10,445 shares during the quarter. D.A. Davidson & CO.'s holdings in Molson Coors Beverage were worth $977,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TAP. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after purchasing an additional 681,757 shares during the last quarter. River Road Asset Management LLC grew its stake in shares of Molson Coors Beverage by 1.8% in the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company's stock worth $96,475,000 after acquiring an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth about $48,202,000. FMR LLC increased its stake in shares of Molson Coors Beverage by 23.2% during the third quarter. FMR LLC now owns 716,311 shares of the company's stock worth $41,202,000 after buying an additional 134,689 shares during the period. Finally, Private Management Group Inc. lifted its holdings in Molson Coors Beverage by 5.5% during the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company's stock worth $32,081,000 after buying an additional 29,294 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 0.9 %

Shares of TAP traded down $0.55 during mid-day trading on Thursday, hitting $61.51. The company had a trading volume of 2,175,349 shares, compared to its average volume of 2,077,472. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. 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 business's 50-day simple moving average is $56.54 and its 200-day simple moving average is $56.78. The stock has a market cap of $12.50 billion, a PE ratio of 11.50, a P/E/G ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during 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%. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company 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 $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage's payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several research analyst reports. Barclays lifted their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley raised their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $63.27.

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.