Molson Coors Beverage (NYSE:TAP) Holdings Lowered by Keybank National Association OH

Keybank National Association OH cut its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 41.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,936 shares of the company's stock after selling 49,041 shares during the quarter. Keybank National Association OH's holdings in Molson Coors Beverage were worth $3,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TAP. US Bancorp DE grew its stake in shares of Molson Coors Beverage by 19.9% during the third quarter. US Bancorp DE now owns 9,460 shares of the company's stock valued at $544,000 after acquiring an additional 1,569 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock valued at $99,000 after purchasing an additional 182 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Molson Coors Beverage by 22.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,789 shares of the company's stock valued at $1,311,000 after purchasing an additional 4,160 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Molson Coors Beverage by 4.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 68,533 shares of the company's stock worth $3,942,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of Molson Coors Beverage by 16.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,463 shares of the company's stock valued at $372,000 after purchasing an additional 921 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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Molson Coors Beverage Stock Performance

TAP traded up $2.51 during trading on Friday, reaching $61.91. 3,101,163 shares of the company were exchanged, compared to its average volume of 1,918,382. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $56.83 and a 200 day moving average of $57.15. The stock has a market cap of $12.54 billion, a P/E ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. 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 presently 35.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Barclays upped their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an "underweight" rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, UBS Group boosted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $63.27.

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.