O Shaughnessy Asset Management LLC Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

O Shaughnessy Asset Management LLC lessened its stake in Molson Coors Beverage (NYSE:TAP) by 81.5% in the fourth quarter, HoldingsChannel reports. The fund owned 27,074 shares of the company’s stock after selling 119,331 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Molson Coors Beverage were worth $1,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truvestments Capital LLC increased its position in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Private Trust Co. NA grew its position 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 worth $46,000 after buying an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Molson Coors Beverage by 101.0% during 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 own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent analyst reports. Barclays cut their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Berenberg Bank initiated coverage on Molson Coors Beverage in a report on Wednesday. They set a “buy” rating and a $86.90 target price on the stock. Morgan Stanley raised their target price 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. 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 research note on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.06.

Molson Coors Beverage Trading Down 2.0 %

NYSE:TAP opened at $61.19 on Friday. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $58.76 and its 200-day moving average price is $57.92. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.07%. This is a boost 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 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.