Molson Coors Beverage (NYSE:TAP) Stock Position Lowered by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,074 shares of the company's stock after selling 119,331 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Molson Coors Beverage were worth $1,552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Molson Coors Beverage by 1.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 348,580 shares of the company's stock valued at $19,981,000 after purchasing an additional 5,446 shares in the last quarter. Allstate Corp acquired a new position in Molson Coors Beverage in the fourth quarter valued at approximately $324,000. DnB Asset Management AS grew its holdings in shares of Molson Coors Beverage by 15.2% during the fourth quarter. DnB Asset Management AS now owns 43,910 shares of the company's stock valued at $2,517,000 after purchasing an additional 5,792 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Molson Coors Beverage by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 59,044 shares of the company's stock worth $3,384,000 after purchasing an additional 277 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $3,086,000. 78.46% of the stock is owned by institutional investors and hedge funds.

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Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.77 during trading hours on Monday, hitting $60.38. 3,220,944 shares of the company's stock traded hands, compared to its average volume of 2,059,229. 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 company's fifty day simple moving average is $58.84 and its two-hundred day simple moving average is $57.98. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results 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 net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business 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 is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. Molson Coors Beverage's payout ratio is 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of several analyst reports. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Finally, Berenberg Bank initiated coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective for the company. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and an average price target of $65.06.

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.