Molson Coors Beverage (NYSE:TAP) Shares Sold by Blume Capital Management Inc.

Blume Capital Management Inc. decreased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,259 shares of the company’s stock after selling 1,700 shares during the quarter. Blume Capital Management Inc.’s holdings in Molson Coors Beverage were worth $359,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in shares of Molson Coors Beverage by 51.4% during 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 last quarter. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth about $42,000. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TAP. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $56.00 to $62.00 in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Trading Down 0.9 %

Shares of TAP stock opened at $58.85 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm’s 50 day moving average price is $57.05 and its two-hundred day moving average price is $57.30. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share 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 business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, analysts anticipate 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 will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.19%. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

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.