Skylands Capital LLC Lowers Position in Molson Coors Beverage (NYSE:TAP)

Skylands Capital LLC reduced its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,950 shares of the company's stock after selling 10,125 shares during the quarter. Skylands Capital LLC's holdings in Molson Coors Beverage were worth $1,487,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TAP. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter worth about $48,202,000. State Street Corp grew its holdings in Molson Coors Beverage by 8.4% during the 3rd 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 in the last quarter. Invenomic Capital Management LP raised its position 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 buying an additional 294,596 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Molson Coors Beverage by 149.1% in the third quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company's stock worth $21,652,000 after buying an additional 225,296 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 92.8% during the third quarter. Victory Capital Management Inc. now owns 434,047 shares of the company's stock worth $24,966,000 after acquiring an additional 208,974 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 0.9 %

Shares of TAP stock traded down $0.55 during trading hours on Thursday, reaching $61.51. 2,175,349 shares of the stock were exchanged, compared to its average volume of 2,077,472. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company's 50-day moving average price is $56.60 and its 200-day moving average price is $56.82. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is 35.14%.

Analyst Ratings Changes

Several brokerages have commented on TAP. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, UBS Group raised their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.27.

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.