Wilmington Savings Fund Society FSB Has $44,000 Stake in Molson Coors Beverage (NYSE:TAP)

Wilmington Savings Fund Society FSB reduced its stake in Molson Coors Beverage (NYSE:TAP) by 83.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 766 shares of the company’s stock after selling 3,785 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Molson Coors Beverage were worth $44,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter worth $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage in the 3rd quarter worth $42,000. True Wealth Design LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth $59,000. Allworth Financial LP boosted its holdings in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $77,000. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the subject of several recent analyst reports. Barclays decreased their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Citigroup upgraded 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 research note on Wednesday, February 5th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. JPMorgan Chase & Co. reduced 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. Finally, UBS Group dropped their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Stock Up 9.5 %

NYSE TAP opened at $58.52 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.07 and a beta of 0.85. The stock’s 50 day moving average is $56.52 and its two-hundred day moving average is $56.26. 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 (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Equities analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.