BI Asset Management Fondsmaeglerselskab A S Sells 10,443 Shares of Molson Coors Beverage (NYSE:TAP)

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 41.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,636 shares of the company’s stock after selling 10,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Molson Coors Beverage were worth $896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new stake in Molson Coors Beverage during the 4th quarter valued at about $29,000. Montag A & Associates Inc. bought a new stake in Molson Coors Beverage during the 4th quarter valued at about $31,000. Stone House Investment Management LLC bought a new stake in Molson Coors Beverage during the 3rd quarter valued at about $32,000. Allworth Financial LP lifted its holdings in Molson Coors Beverage by 179.4% during the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after buying an additional 400 shares in the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in Molson Coors Beverage during the 4th quarter valued at about $43,000. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the topic of a number of research reports. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price on the stock. Citigroup cut their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. Barclays cut their target price on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America cut their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.53.

Molson Coors Beverage Stock Down 1.2 %

NYSE:TAP opened at $54.48 on Thursday. The company has a market cap of $11.54 billion, a PE ratio of 10.90, a P/E/G ratio of 1.99 and a beta of 0.86. Molson Coors Beverage has a twelve month low of $54.46 and a twelve month high of $70.90. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $63.11 and its two-hundred day moving average is $62.27.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. Analysts anticipate that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 7th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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.