Securian Asset Management Inc. Sells 330 Shares of Molson Coors Beverage (NYSE:TAP)

Securian Asset Management Inc. reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,386 shares of the company’s stock after selling 330 shares during the quarter. Securian Asset Management Inc.’s holdings in Molson Coors Beverage were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Truvestments Capital LLC grew its position in 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 purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. Private Trust Co. NA increased its position in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 489 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $59.40 on Tuesday. The stock has a 50 day simple moving average of $57.24 and a 200 day simple moving average of $57.45. The stock has a market cap of $12.04 billion, a P/E ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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 analysts’ consensus estimates 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 analysts’ expectations of $2.71 billion. Research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TAP shares. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. 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 report on Friday, February 14th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Barclays upgraded Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $56.00 to $62.00 in a report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.67.

About Molson Coors Beverage

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.