Keybank National Association OH Sells 49,041 Shares of Molson Coors Beverage (NYSE:TAP)

Keybank National Association OH lessened its stake in shares of Molson Coors Beverage (NYSE:TAP) by 41.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,936 shares of the company’s stock after selling 49,041 shares during the period. Keybank National Association OH’s holdings in Molson Coors Beverage were worth $3,951,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TAP. Commerzbank Aktiengesellschaft FI raised its stake in Molson Coors Beverage by 9.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,634 shares of the company’s stock valued at $776,000 after buying an additional 1,165 shares during the period. Scott & Selber Inc. raised its stake in Molson Coors Beverage by 72.5% in the fourth quarter. Scott & Selber Inc. now owns 41,610 shares of the company’s stock valued at $2,385,000 after buying an additional 17,486 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after buying an additional 33,234 shares during the period. State of Michigan Retirement System raised its stake in Molson Coors Beverage by 6.7% in the fourth quarter. State of Michigan Retirement System now owns 65,670 shares of the company’s stock valued at $3,764,000 after buying an additional 4,100 shares during the period. Finally, Unified Investment Management bought a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $871,000. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TAP shares. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Morgan Stanley upped their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Trading Down 0.5 %

Shares of NYSE:TAP opened at $59.31 on Thursday. The company has a market capitalization of $12.02 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The business’s 50 day simple moving average is $56.71 and its 200 day simple moving average is $57.04.

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

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

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.