Maryland State Retirement & Pension System Decreases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Maryland State Retirement & Pension System lessened its stake in shares of Molson Coors Beverage (NYSE:TAP) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,123 shares of the company’s stock after selling 886 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Molson Coors Beverage were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its position in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares during the period. Bank of New York Mellon Corp increased its position in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after acquiring an additional 33,234 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in Molson Coors Beverage by 5.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock worth $50,472,000 after purchasing an additional 42,530 shares during the last quarter. Finally, RWC Asset Management LLP grew its stake in shares of Molson Coors Beverage by 17.8% during the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after purchasing an additional 113,091 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TAP shares. Citigroup raised shares of 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. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Morgan Stanley upped their price objective on 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. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Finally, UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Eleven equities 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, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $63.67.

Molson Coors Beverage Trading Up 0.8 %

Shares of TAP opened at $59.36 on Tuesday. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a 50-day moving average of $57.67 and a 200 day moving average of $57.57.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. On average, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

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.