Schroder Investment Management Group Sells 15,471 Shares of Molson Coors Beverage (NYSE:TAP)

Schroder Investment Management Group lowered its position in Molson Coors Beverage (NYSE:TAP) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,805,893 shares of the company’s stock after selling 15,471 shares during the period. Schroder Investment Management Group’s holdings in Molson Coors Beverage were worth $103,514,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TAP. Allstate Corp purchased a new position in Molson Coors Beverage during the fourth quarter valued at $324,000. DnB Asset Management AS lifted its position in Molson Coors Beverage by 15.2% during the 4th quarter. DnB Asset Management AS now owns 43,910 shares of the company’s stock valued at $2,517,000 after acquiring an additional 5,792 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Molson Coors Beverage by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 59,044 shares of the company’s stock valued at $3,384,000 after acquiring an additional 277 shares during the period. New Age Alpha Advisors LLC bought a new stake in Molson Coors Beverage during the fourth quarter worth about $3,086,000. Finally, Norges Bank purchased a new stake in Molson Coors Beverage in the fourth quarter worth about $142,407,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

Shares of NYSE:TAP opened at $60.52 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock’s 50-day simple moving average is $58.11 and its two-hundred day simple moving average is $57.72.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Analysts expect that Molson Coors Beverage will post 6.35 EPS for the current 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. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Analysts Set New Price Targets

A number of analysts have recently commented on TAP shares. JPMorgan Chase & Co. dropped their price target on 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. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley upped their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Barclays reduced their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $63.60.

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.