Rhumbline Advisers Sells 6,202 Shares of Molson Coors Beverage (NYSE:TAP)

Rhumbline Advisers reduced its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 324,306 shares of the company's stock after selling 6,202 shares during the quarter. Rhumbline Advisers owned about 0.16% of Molson Coors Beverage worth $18,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TAP. Creative Planning lifted its stake in shares of Molson Coors Beverage by 14.7% in the 3rd quarter. Creative Planning now owns 18,890 shares of the company's stock valued at $1,087,000 after purchasing an additional 2,418 shares during the period. Blue Trust Inc. lifted its stake in Molson Coors Beverage by 63.3% in the third quarter. Blue Trust Inc. now owns 2,951 shares of the company's stock valued at $170,000 after buying an additional 1,144 shares during the period. Private Advisor Group LLC boosted its holdings in Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company's stock worth $1,845,000 after buying an additional 277 shares during the last quarter. Greenleaf Trust boosted its holdings in Molson Coors Beverage by 22.6% during the third quarter. Greenleaf Trust now owns 8,825 shares of the company's stock worth $508,000 after buying an additional 1,625 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Molson Coors Beverage by 1,711.8% during the 3rd quarter. International Assets Investment Management LLC now owns 54,880 shares of the company's stock worth $3,157,000 after buying an additional 51,851 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP stock traded down $0.46 during trading hours on Tuesday, reaching $60.75. The stock had a trading volume of 2,827,909 shares, compared to its average volume of 2,046,192. The stock has a market capitalization of $12.51 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The stock has a 50-day simple moving average of $56.47 and a 200 day simple moving average of $56.75. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 posted 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. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.09%. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of analyst reports. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and increased their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. One research 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, the company 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.