Cypress Capital Group Sells 5,669 Shares of Molson Coors Beverage (NYSE:TAP)

Cypress Capital Group lessened its stake in Molson Coors Beverage (NYSE:TAP) by 31.5% in the fourth quarter, HoldingsChannel reports. The fund owned 12,345 shares of the company’s stock after selling 5,669 shares during the period. Cypress Capital Group’s holdings in Molson Coors Beverage were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TAP. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.5 %

Shares of NYSE:TAP opened at $59.31 on Thursday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm 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. The stock has a 50 day moving average price of $56.71 and a 200-day moving average price of $57.04. 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 (NYSE:TAP) last posted its quarterly earnings data 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. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. 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 dividend payout ratio (DPR) is 35.14%.

Analysts Set New Price Targets

TAP has been the subject of a number of recent research reports. BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley boosted their price target 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. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One equities research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.27.

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.