KBC Group NV Sells 145,494 Shares of Molson Coors Beverage (NYSE:TAP)

KBC Group NV lowered its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 335,243 shares of the company's stock after selling 145,494 shares during the quarter. KBC Group NV owned 0.16% of Molson Coors Beverage worth $19,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new stake in Molson Coors Beverage during the third quarter worth about $48,202,000. State Street Corp grew its stake in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Millennium Management LLC grew its stake in shares of Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company's stock valued at $38,893,000 after purchasing an additional 645,847 shares during the last quarter. Randolph Co Inc bought a new stake in shares of Molson Coors Beverage during the third quarter valued at approximately $21,754,000. Finally, Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock valued at $29,875,000 after purchasing an additional 294,596 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 0.9 %

TAP traded down $0.47 during mid-day trading on Friday, hitting $54.76. The stock had a trading volume of 1,497,611 shares, compared to its average volume of 1,561,557. The stock's fifty day simple moving average is $57.82 and its 200-day simple moving average is $56.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 2.09 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business posted $1.92 earnings per share. The firm's quarterly revenue was down 7.8% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on TAP shares. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and increased their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a "neutral" rating and a $64.00 price target on the stock. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Saturday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $61.64.

Molson Coors Beverage 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.