BI Asset Management Fondsmaeglerselskab A S Has $896,000 Holdings in Molson Coors Beverage (NYSE:TAP)

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 41.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,636 shares of the company’s stock after selling 10,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Molson Coors Beverage were worth $896,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TAP. Tennessee Valley Asset Management Partners bought a new position in Molson Coors Beverage in the fourth quarter valued at about $29,000. Montag A & Associates Inc. acquired a new stake in Molson Coors Beverage during the 4th quarter worth approximately $31,000. Stone House Investment Management LLC bought a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $32,000. Allworth Financial LP increased its position in Molson Coors Beverage by 179.4% in the 4th quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Finally, Partnership Wealth Management LLC bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at $43,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TAP shares. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Barclays lowered their price objective on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Piper Sandler started coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price for the company. Citigroup dropped their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. Finally, TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.53.

View Our Latest Report on Molson Coors Beverage

Molson Coors Beverage Trading Down 1.2 %

NYSE:TAP opened at $54.48 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.86. Molson Coors Beverage has a 52 week low of $54.46 and a 52 week high of $70.90. The firm has a 50-day moving average price of $63.11 and a two-hundred day moving average price of $62.27.

Molson Coors Beverage (NYSE:TAPGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $0.54 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that Molson Coors Beverage will post 5.69 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, June 7th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

About Molson Coors Beverage

(Free Report)

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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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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