New York State Common Retirement Fund Sells 5,000 Shares of Molson Coors Beverage (NYSE:TAP)

New York State Common Retirement Fund lowered its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,816 shares of the company's stock after selling 5,000 shares during the period. New York State Common Retirement Fund's holdings in Molson Coors Beverage were worth $4,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter valued at about $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the third quarter valued at about $42,000. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after buying an additional 428 shares during the period. True Wealth Design LLC bought a new position in Molson Coors Beverage during the third quarter valued at about $59,000. Finally, Allworth Financial LP boosted its position in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company's stock worth $68,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.1 %

Shares of NYSE:TAP traded down $0.08 during midday trading on Monday, reaching $61.21. The company's stock had a trading volume of 1,072,812 shares, compared to its average volume of 1,903,453. The firm has a 50 day moving average of $56.64 and a 200-day moving average of $56.94. The firm has a market capitalization of $12.40 billion, a P/E ratio of 11.42, a PEG ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.94 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 announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.07%. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is 35.14%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TAP. Needham & Company LLC reiterated a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and an average price target of $63.27.

Molson Coors Beverage Company 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.