Legal & General Group Plc Sells 515,256 Shares of Molson Coors Beverage (NYSE:TAP)

Legal & General Group Plc decreased its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,364,780 shares of the company's stock after selling 515,256 shares during the quarter. Legal & General Group Plc owned about 0.66% of Molson Coors Beverage worth $78,229,000 at the end of the most recent reporting period.

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

Molson Coors Beverage Stock Up 1.2 %

TAP traded up $0.72 during trading on Thursday, reaching $59.43. 471,701 shares of the stock traded hands, compared to its average volume of 2,075,845. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The stock's 50-day simple moving average is $59.82 and its two-hundred day simple moving average is $58.20. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $65.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TAP. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Morgan Stanley upped their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, 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. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.