Meeder Asset Management Inc. lowered its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 91.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,464 shares of the company's stock after selling 45,177 shares during the quarter. Meeder Asset Management Inc.'s holdings in Molson Coors Beverage were worth $256,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of TAP. Truvestments Capital LLC raised its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% in 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 last quarter. SRS Capital Advisors Inc. lifted its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.
Molson Coors Beverage Stock Down 2.1 %
Molson Coors Beverage stock traded down $1.33 during mid-day trading on Friday, reaching $61.14. 2,632,196 shares of the company were exchanged, compared to its average volume of 2,250,266. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market cap of $12.39 billion, a P/E ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.81. The business has a fifty day moving average of $58.64 and a 200 day moving average of $57.87. 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 data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.
Molson Coors Beverage Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is currently 35.14%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on TAP shares. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. UBS Group raised their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.06.
Read Our Latest Stock Analysis on Molson Coors Beverage
Molson Coors Beverage Profile
(
Free Report)
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.
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