Molson Coors Beverage (NYSE:TAP) Shares Sold by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH reduced its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 43.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,252 shares of the company's stock after selling 5,598 shares during the quarter. Lingohr Asset Management GmbH's holdings in Molson Coors Beverage were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TAP. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Molson Coors Beverage by 143.6% in the fourth 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 last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after buying an additional 203 shares during the period. Private Trust Co. NA grew its holdings in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after buying an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Molson Coors Beverage by 101.0% in 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 during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on TAP. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. 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 research note on Wednesday, February 5th. Morgan Stanley raised their target price on shares of 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. UBS Group boosted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, BNP Paribas began coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. Eleven equities 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.com, Molson Coors Beverage has an average rating of "Hold" and an average price target of $63.67.

Molson Coors Beverage Price Performance

NYSE:TAP traded up $0.47 during mid-day trading on Monday, hitting $59.36. 1,929,724 shares of the company's stock traded hands, compared to its average volume of 1,955,766. The firm's 50 day simple moving average is $57.67 and its 200 day simple moving average is $57.57. The company has a market cap of $12.03 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. 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 posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were 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 yield of 3.17%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

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.