Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 21,200 Shares of Molson Coors Beverage (NYSE:TAP)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 26.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 58,066 shares of the company's stock after selling 21,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Molson Coors Beverage were worth $3,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the 3rd quarter valued at $42,000. Catalyst Capital Advisors LLC grew its position 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 purchasing an additional 428 shares during the period. True Wealth Design LLC bought a new position in Molson Coors Beverage during the 3rd quarter valued at $59,000. Finally, Allworth Financial LP lifted its stake in Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company's stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

TAP stock traded down $0.29 during mid-day trading on Friday, reaching $61.25. 3,533,516 shares of the company traded hands, compared to its average volume of 2,114,811. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market capitalization of $12.45 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a fifty day moving average price of $56.60 and a 200-day moving average price of $56.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, 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. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage's payout ratio is presently 35.14%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Barclays lifted their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a "neutral" rating and a $64.00 target price on the stock. Finally, StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $63.27.

Molson Coors Beverage 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.