Strategic Global Advisors LLC Lowers Holdings in Molson Coors Beverage (NYSE:TAP)

Strategic Global Advisors LLC trimmed its holdings in Molson Coors Beverage (NYSE:TAPFree Report) by 48.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,227 shares of the company’s stock after selling 18,835 shares during the quarter. Strategic Global Advisors LLC’s holdings in Molson Coors Beverage were worth $1,238,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC raised its position in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after acquiring an additional 174 shares during the period. IMPACTfolio LLC raised its position in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after acquiring an additional 176 shares during the period. Syntax Advisors LLC raised its position in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after acquiring an additional 185 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after acquiring an additional 200 shares during the period. Finally, Kentucky Retirement Systems raised its position in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after acquiring an additional 221 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.1 %

Shares of NYSE TAP opened at $51.90 on Tuesday. Molson Coors Beverage has a 12-month low of $51.60 and a 12-month high of $70.90. The stock has a market cap of $11.00 billion, a PE ratio of 10.38, a P/E/G ratio of 1.88 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $59.75 and a 200 day moving average of $61.78.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a $0.44 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TAP. Piper Sandler started coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Evercore ISI reduced their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $65.07.

Read Our Latest Analysis on Molson Coors Beverage

Molson Coors Beverage Company Profile

(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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