Forsta AP Fonden Has $7.20 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Forsta AP Fonden reduced its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,600 shares of the company's stock after selling 48,400 shares during the period. Forsta AP Fonden owned about 0.06% of Molson Coors Beverage worth $7,199,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $42,000. Quarry LP acquired a new position in Molson Coors Beverage in the 2nd quarter valued at approximately $54,000. True Wealth Design LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP lifted its position in Molson Coors Beverage by 33.7% in the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company's stock worth $68,000 after buying an additional 297 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TAP. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a "neutral" rating and a $64.00 price target on the stock. Barclays dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday. Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.64.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded down $0.47 on Friday, reaching $54.76. 1,497,611 shares of the stock were exchanged, compared to its average volume of 1,689,540. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a fifty day moving average price of $57.82 and a two-hundred day moving average price of $56.20. The stock has a market cap of $11.28 billion, a PE ratio of 12.33, a PEG ratio of 2.09 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. Sell-side analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.21%. Molson Coors Beverage's payout ratio is 39.64%.

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.