Molson Coors Beverage (NYSE:TAP) Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC decreased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,519,677 shares of the company's stock after selling 110,040 shares during the period. Molson Coors Beverage makes up approximately 5.0% of Clarkston Capital Partners LLC's holdings, making the stock its 5th biggest position. Clarkston Capital Partners LLC owned 2.19% of Molson Coors Beverage worth $259,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC grew its holdings in shares of Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after acquiring an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after acquiring an additional 563 shares in the last quarter. US Bancorp DE boosted its stake in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares during the last quarter. Unified Investment Management bought a new position in shares of Molson Coors Beverage during the 4th quarter valued at approximately $871,000. Finally, Wilsey Asset Management Inc. grew its stake in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after buying an additional 8,679 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

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Molson Coors Beverage Trading Up 0.5 %

Shares of Molson Coors Beverage stock traded up $0.32 during trading hours on Friday, reaching $60.27. 1,195,805 shares of the company's stock were exchanged, compared to its average volume of 2,068,109. The company has a fifty day moving average of $59.32 and a 200-day moving average of $58.10. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $68.15. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 3.12%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is currently 35.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TAP. Berenberg Bank initiated coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target for the company. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $64.39.

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.