Ceera Investments LLC Trims Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Ceera Investments LLC trimmed its position in Molson Coors Beverage (NYSE:TAP) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,240 shares of the company’s stock after selling 992 shares during the period. Ceera Investments LLC’s holdings in Molson Coors Beverage were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage in the third quarter worth $48,202,000. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Molson Coors Beverage in the fourth quarter worth $27,660,000. Bank of New York Mellon Corp boosted its holdings in Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after acquiring an additional 434,250 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after acquiring an additional 294,596 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $61.91 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. The business has a 50-day simple moving average of $56.83 and a two-hundred day simple moving average of $57.15. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analyst Weigh In

TAP has been the topic of several analyst reports. Barclays boosted their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley boosted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.27.

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.