JPMorgan Chase & Co. Sells 519,119 Shares of Molson Coors Beverage (NYSE:TAP)

JPMorgan Chase & Co. lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,915 shares of the company's stock after selling 519,119 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Molson Coors Beverage worth $37,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Raymond James Financial Inc. bought a new position in Molson Coors Beverage during the 4th quarter worth about $27,660,000. Bank of New York Mellon Corp grew its holdings in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock worth $202,661,000 after buying an additional 434,250 shares in the last quarter. LBP AM SA raised its position in Molson Coors Beverage by 1,553.3% in the 4th quarter. LBP AM SA now owns 206,664 shares of the company's stock valued at $11,846,000 after buying an additional 194,164 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Molson Coors Beverage by 22.4% in the 4th quarter. LPL Financial LLC now owns 717,592 shares of the company's stock valued at $41,132,000 after acquiring an additional 131,276 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.68 during trading hours on Friday, hitting $60.63. The company had a trading volume of 2,582,979 shares, compared to its average volume of 2,075,874. The firm has a 50-day moving average of $59.47 and a 200 day moving average of $58.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a market cap of $12.28 billion, a PE ratio of 11.33, a PEG ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a one year low of $49.19 and a one year high of $67.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion for 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%. On average, sell-side 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 declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. Molson Coors Beverage's dividend payout ratio is 35.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. UBS Group raised their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.