Tredje AP fonden Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

Tredje AP fonden trimmed its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,888 shares of the company's stock after selling 14,887 shares during the period. Tredje AP fonden's holdings in Molson Coors Beverage were worth $853,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TAP. Truvestments Capital LLC boosted its position in shares of 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 acquiring an additional 202 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $42,000. Catalyst Capital Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after acquiring an additional 203 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after purchasing an additional 276 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TAP. JPMorgan Chase & Co. reduced 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. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and upped their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Barclays upgraded shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $56.00 to $62.00 in a report on Thursday, March 13th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price 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. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $63.67.

Molson Coors Beverage Stock Down 1.1 %

TAP stock traded down $0.64 during mid-day trading on Wednesday, reaching $58.30. 2,245,795 shares of the company traded hands, compared to its average volume of 1,917,875. 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 firm's 50 day moving average price is $57.32 and its 200 day moving average price is $57.48. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

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, beating analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.22%. Molson Coors Beverage's dividend payout ratio (DPR) is 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.