Federated Hermes Inc. Sells 27,681 Shares of Molson Coors Beverage (NYSE:TAP)

Federated Hermes Inc. lessened its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 26.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 76,983 shares of the company's stock after selling 27,681 shares during the quarter. Federated Hermes Inc.'s holdings in Molson Coors Beverage were worth $4,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TAP. Nomura Asset Management Co. Ltd. grew its position in shares of Molson Coors Beverage by 12.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 58,767 shares of the company's stock valued at $3,380,000 after purchasing an additional 6,418 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Molson Coors Beverage by 26.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,901 shares of the company's stock worth $343,000 after buying an additional 1,246 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Molson Coors Beverage by 38.4% during the third quarter. Toronto Dominion Bank now owns 94,500 shares of the company's stock worth $5,436,000 after buying an additional 26,198 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Molson Coors Beverage by 148.2% in the third quarter. Virtu Financial LLC now owns 11,801 shares of the company's stock valued at $679,000 after acquiring an additional 7,046 shares during the period. Finally, SkyView Investment Advisors LLC grew its stake in shares of Molson Coors Beverage by 4.0% in the third quarter. SkyView Investment Advisors LLC now owns 15,700 shares of the company's stock valued at $903,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $0.01 during trading on Friday, hitting $58.72. 1,549,253 shares of the company were exchanged, compared to its average volume of 2,081,011. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $65.24. The company has a market capitalization of $11.90 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. 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 moving average is $59.92 and its 200-day moving average is $58.21.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued 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. Equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. 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. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on 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. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Barclays decreased their price target on 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, UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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.