Parkside Financial Bank & Trust Lowers Position in Molson Coors Beverage (NYSE:TAP)

Parkside Financial Bank & Trust cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 892 shares of the company’s stock after selling 163 shares during the period. Parkside Financial Bank & Trust’s holdings in Molson Coors Beverage were worth $55,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. California Public Employees Retirement System lifted its position in Molson Coors Beverage by 26.0% during the fourth quarter. California Public Employees Retirement System now owns 455,577 shares of the company’s stock valued at $27,886,000 after purchasing an additional 94,125 shares in the last quarter. Duality Advisers LP purchased a new position in Molson Coors Beverage during the fourth quarter valued at $2,876,000. CWM LLC lifted its position in Molson Coors Beverage by 24.0% during the fourth quarter. CWM LLC now owns 6,501 shares of the company’s stock valued at $398,000 after purchasing an additional 1,260 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Molson Coors Beverage by 25.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,215 shares of the company’s stock valued at $1,176,000 after acquiring an additional 3,956 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Molson Coors Beverage by 30.2% in the fourth quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock valued at $73,000 after acquiring an additional 277 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.4 %

Shares of NYSE TAP opened at $62.54 on Friday. The business’s 50 day moving average is $65.14 and its two-hundred day moving average is $62.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The stock has a market capitalization of $13.30 billion, a P/E ratio of 14.34, a PEG ratio of 2.20 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. As a group, research analysts expect that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.81%. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several research analyst reports. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Barclays boosted their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Citigroup downgraded Molson Coors Beverage from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $66.00 to $56.00 in a research report on Wednesday. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.07.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.71% of the company’s stock.

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.