Vontobel Holding Ltd. Sells 6,559 Shares of Molson Coors Beverage (NYSE:TAP)

Vontobel Holding Ltd. lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 183,180 shares of the company’s stock after selling 6,559 shares during the period. Vontobel Holding Ltd.’s holdings in Molson Coors Beverage were worth $11,212,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TAP. Quarry LP bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage in the 4th quarter valued at about $29,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $32,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Molson Coors Beverage by 85.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP opened at $63.26 on Wednesday. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.31 and a beta of 0.84. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The company’s fifty day simple moving average is $64.75 and its 200 day simple moving average is $62.20. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. On average, research analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

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

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $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 corporate insiders.

Analyst Ratings Changes

TAP has been the topic of several recent analyst reports. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective on the stock. Barclays lifted 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 research note on Friday, April 12th. Citigroup lifted their price target on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $68.27.

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.