Parkside Financial Bank & Trust Has $55,000 Holdings in Molson Coors Beverage (NYSE:TAP)

Parkside Financial Bank & Trust lessened its position in Molson Coors Beverage (NYSE:TAP) by 15.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 892 shares of the company’s stock after selling 163 shares during the period. Parkside Financial Bank & Trust’s holdings in Molson Coors Beverage were worth $55,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its position in shares of Molson Coors Beverage by 26.0% during the fourth quarter. California Public Employees Retirement System now owns 455,577 shares of the company’s stock valued at $27,886,000 after buying an additional 94,125 shares during the last quarter. Duality Advisers LP purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $2,876,000. CWM LLC boosted its position in shares of Molson Coors Beverage by 24.0% during the fourth quarter. CWM LLC now owns 6,501 shares of the company’s stock valued at $398,000 after buying an additional 1,260 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Molson Coors Beverage by 25.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,215 shares of the company’s stock valued at $1,176,000 after buying an additional 3,956 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Molson Coors Beverage by 30.2% during the fourth quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock valued at $73,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TAP. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Barclays lifted their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.07.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of 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 document filed with the SEC, which is available through the SEC website. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $62.54 on Friday. The firm has a market cap of $13.30 billion, a PE ratio of 14.34, a PEG ratio of 2.20 and a beta of 0.84. The stock’s fifty day moving average price is $65.14 and its two-hundred day moving average price is $62.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90.

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

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given 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 annualized dividend and a dividend yield of 2.81%. Molson Coors Beverage’s payout ratio is 40.37%.

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.