Molson Coors Beverage (NYSE:TAP) Shares Sold by Skylands Capital LLC

Skylands Capital LLC trimmed its position in Molson Coors Beverage (NYSE:TAP) by 28.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 25,950 shares of the company’s stock after selling 10,125 shares during the period. Skylands Capital LLC’s holdings in Molson Coors Beverage were worth $1,487,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TAP. Clark Estates Inc. NY increased its holdings in Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after acquiring an additional 563 shares in the last quarter. Wilsey Asset Management Inc. boosted its position in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after acquiring an additional 9,234 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after purchasing an additional 9,510 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $60.29 on Monday. The stock has a 50-day moving average price of $56.41 and a two-hundred day moving average price of $56.63. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month 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. The company has a market capitalization of $12.42 billion, a PE ratio of 11.27, a P/E/G ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a $0.47 dividend. This is a positive change 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 yield of 3.12%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Bank of America raised shares of 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 report on Friday, December 6th. Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.27.

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.