Molson Coors Beverage (NYSE:TAP) Stock Holdings Lowered by Bfsg LLC

Bfsg LLC lowered its position in shares of Molson Coors Beverage (NYSE:TAP) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,834 shares of the company’s stock after selling 680 shares during the period. Bfsg LLC’s holdings in Molson Coors Beverage were worth $220,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TAP. 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 valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. River Road Asset Management LLC grew its position in Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after buying an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the 3rd quarter valued at about $48,202,000. FMR LLC grew its position in Molson Coors Beverage by 23.2% in the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after buying an additional 134,689 shares in the last quarter. Finally, Private Management Group Inc. grew its position in Molson Coors Beverage by 5.5% in the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock valued at $32,081,000 after buying an additional 29,294 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TAP shares. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. UBS Group upped their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Price Performance

TAP stock opened at $60.55 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a market capitalization of $12.47 billion, a PE ratio of 13.64, a P/E/G ratio of 2.07 and a beta of 0.85. The firm has a 50-day moving average of $56.46 and a two-hundred day moving average of $56.47.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The company 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 9.24% and a net margin of 6.78%. On average, analysts forecast that Molson Coors Beverage will post 5.79 earnings per share 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. Stockholders of record on Thursday, February 27th will be issued a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.10%. Molson Coors Beverage’s dividend payout ratio is currently 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.