Molson Coors Beverage (NYSE:TAP) Position Trimmed by Skba Capital Management LLC

Skba Capital Management LLC reduced its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,760 shares of the company's stock after selling 9,700 shares during the period. Molson Coors Beverage accounts for about 1.5% of Skba Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Skba Capital Management LLC owned about 0.08% of Molson Coors Beverage worth $9,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TAP. Truvestments Capital LLC increased its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after buying an additional 202 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after acquiring an additional 428 shares during the period. SRS Capital Advisors Inc. lifted its position in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after purchasing an additional 489 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Molson Coors Beverage Trading Up 0.8 %

Shares of NYSE:TAP traded up $0.53 during midday trading on Thursday, reaching $62.48. The company had a trading volume of 3,354,494 shares, compared to its average volume of 2,035,460. The company has a fifty day simple moving average of $58.47 and a two-hundred day simple moving average of $57.84. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. 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 (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's payout ratio is 35.14%.

Analyst Ratings Changes

TAP has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on 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. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research report on Wednesday. They set a "buy" rating and a $86.90 price target on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.06.

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.