B. Metzler seel. Sohn & Co. AG decreased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 65.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,796 shares of the company's stock after selling 9,011 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Molson Coors Beverage were worth $275,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. C M Bidwell & Associates Ltd. boosted its position in Molson Coors Beverage by 60.7% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 5,655 shares of the company's stock worth $324,000 after purchasing an additional 2,135 shares during the period. AIA Group Ltd grew its stake in Molson Coors Beverage by 25.4% in the 4th quarter. AIA Group Ltd now owns 31,320 shares of the company's stock valued at $1,795,000 after buying an additional 6,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 348,580 shares of the company's stock valued at $19,981,000 after buying an additional 5,446 shares in the last quarter. Allstate Corp bought a new stake in Molson Coors Beverage during the 4th quarter valued at $324,000. Finally, DnB Asset Management AS boosted its holdings in shares of Molson Coors Beverage by 15.2% in the fourth quarter. DnB Asset Management AS now owns 43,910 shares of the company's stock worth $2,517,000 after acquiring an additional 5,792 shares during the period. 78.46% of the stock is owned by institutional investors.
Molson Coors Beverage Trading Down 1.3 %
Shares of NYSE TAP traded down $0.77 during midday trading on Monday, hitting $60.38. 3,220,944 shares of the company traded hands, compared to its average volume of 2,059,229. 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 has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a 50-day moving average price of $58.84 and a 200 day moving average price of $57.98. The firm has a market cap of $12.23 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.52 and a beta of 0.69.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its 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 company 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%. As a group, analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is 35.14%.
Wall Street Analysts Forecast Growth
TAP has been the subject of a number of recent analyst reports. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $65.06.
Check Out Our Latest Research Report on TAP
About Molson Coors Beverage
(
Free Report)
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.
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