Molson Coors Beverage (NYSE:TAP) Shares Sold by Generali Investments Towarzystwo Funduszy Inwestycyjnych

Generali Investments Towarzystwo Funduszy Inwestycyjnych reduced its holdings in Molson Coors Beverage (NYSE:TAP) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,300 shares of the company’s stock after selling 300 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Molson Coors Beverage were worth $189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Clark Estates Inc. NY raised its holdings in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after acquiring an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the last quarter. Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after buying an additional 8,679 shares during the last quarter. Qsemble Capital Management LP grew its position in Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after purchasing an additional 9,234 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $61.51 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm’s 50 day moving average price is $56.60 and its two-hundred day moving average price is $56.82. The firm has a market cap of $12.50 billion, a P/E ratio of 11.50, a PEG ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TAP shares. Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.27.

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.