Molson Coors Beverage (NYSE:TAP) Shares Sold by Versor Investments LP

Versor Investments LP decreased its position in Molson Coors Beverage (NYSE:TAP) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,600 shares of the company’s stock after selling 1,200 shares during the quarter. Versor Investments LP’s holdings in Molson Coors Beverage were worth $665,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in shares of 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 acquiring an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Molson Coors Beverage by 14.0% in the 4th 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. River Road Asset Management LLC grew its position in shares of 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 worth $96,475,000 after acquiring an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $48,202,000. Finally, RWC Asset Management LLP grew its position in shares of Molson Coors Beverage by 17.8% in the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock worth $42,829,000 after acquiring an additional 113,091 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.5 %

Shares of TAP stock opened at $61.25 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.45 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The business’s fifty day moving average is $56.60 and its 200-day moving average is $56.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analysts Set New Price Targets

Several research analysts have recently commented on TAP shares. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Morgan Stanley raised their price target 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, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.27.

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.