Capital Investment Advisors LLC reduced its stake in Molson Coors Beverage (NYSE:TAP – Free Report) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,596 shares of the company’s stock after selling 1,219 shares during the period. Capital Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $837,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of TAP. Pacer Advisors Inc. increased its position in shares of Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $48,202,000. State Street Corp increased its holdings in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Millennium Management LLC raised its position in Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after purchasing an additional 645,847 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after purchasing an additional 434,685 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Molson Coors Beverage Trading Up 0.8 %
NYSE:TAP opened at $54.26 on Wednesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $11.18 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.38 and a beta of 0.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a 50-day simple moving average of $59.29 and a 200-day simple moving average of $55.85.
Molson Coors Beverage Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.24%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.
Analyst Upgrades and Downgrades
TAP has been the subject of a number of research reports. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective for the company. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $62.00.
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.
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