Mn Services Vermogensbeheer B.V. Lowers Stock Position in Molson Coors Beverage (NYSE:TAP)

Mn Services Vermogensbeheer B.V. lowered its position in Molson Coors Beverage (NYSE:TAP) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 86,689 shares of the company’s stock after selling 3,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Molson Coors Beverage were worth $5,306,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its stake in Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after purchasing an additional 1,859 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Molson Coors Beverage by 6,418.1% in the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after buying an additional 149,093 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after buying an additional 408 shares during the last quarter. Metis Global Partners LLC grew its holdings in Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after buying an additional 2,183 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $3,245,000. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Barclays increased their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, Citigroup upped their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $68.27.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available through this link. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Trading Down 2.3 %

TAP stock opened at $63.26 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The company has a market capitalization of $13.65 billion, a PE ratio of 14.51, a P/E/G ratio of 2.31 and a beta of 0.84. The firm’s 50-day moving average is $64.75 and its 200 day moving average is $62.20. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

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.