Swiss National Bank Sells 38,000 Shares of Molson Coors Beverage (NYSE:TAP)

Swiss National Bank trimmed its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 513,400 shares of the company's stock after selling 38,000 shares during the quarter. Swiss National Bank owned approximately 0.25% of Molson Coors Beverage worth $29,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TAP. State Street Corp lifted its position in shares of Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after acquiring an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp boosted 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 purchasing an additional 434,250 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock valued at $96,562,000 after acquiring an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage during the third quarter valued at $48,202,000. Finally, RWC Asset Management LLP boosted its position in Molson Coors Beverage by 17.8% during the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company's stock valued at $42,829,000 after purchasing an additional 113,091 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

TAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Barclays raised shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $56.00 to $62.00 in a research report on Thursday, March 13th. Morgan Stanley raised their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.67.

Molson Coors Beverage Stock Performance

NYSE:TAP traded down $0.27 during mid-day trading on Friday, hitting $58.72. 8,355,748 shares of the company's stock traded hands, compared to its average volume of 1,949,604. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The firm has a 50 day moving average of $57.44 and a two-hundred day moving average of $57.50. 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 has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during 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, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.20%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

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.