Bfsg LLC Lowers Position in Molson Coors Beverage (NYSE:TAP)

Bfsg LLC trimmed its stake in Molson Coors Beverage (NYSE:TAP) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,834 shares of the company’s stock after selling 680 shares during the quarter. Bfsg LLC’s holdings in Molson Coors Beverage were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during 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 in the last quarter. True Wealth Design LLC acquired a new position in Molson Coors Beverage during the third quarter valued at approximately $59,000. Finally, Allworth Financial LP lifted its position in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 0.3 %

TAP stock opened at $60.55 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a fifty day moving average price of $56.46 and a two-hundred day moving average price of $56.47. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Research analysts predict that Molson Coors Beverage will post 5.79 EPS for the current 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 paid a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.10%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. 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 report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.27.

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.