Molson Coors Beverage (NYSE:TAP) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 513,400 shares of the company’s stock after selling 38,000 shares during the quarter. Swiss National Bank owned about 0.25% of Molson Coors Beverage worth $29,428,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC boosted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the period. Private Trust Co. NA lifted its holdings in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after buying an additional 489 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.4 %

Shares of NYSE TAP opened at $59.40 on Tuesday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a market capitalization of $12.04 billion, a PE ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $57.24 and a two-hundred day moving average price of $57.45.

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

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Wall Street Analyst Weigh In

TAP has been the subject of several research analyst reports. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. 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 report on Friday, February 14th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $56.00 to $62.00 in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.67.

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.