Molson Coors Beverage (NYSE:TAP) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Molson Coors Beverage (NYSE:TAP) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,140 shares of the company’s stock after selling 1,106 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Molson Coors Beverage were worth $2,129,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the period. Bank of New York Mellon Corp lifted its stake in 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 valued at $202,661,000 after buying an additional 434,250 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after buying an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Molson Coors Beverage by 5.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock worth $50,472,000 after buying an additional 42,530 shares in the last quarter. Finally, RWC Asset Management LLP raised its holdings in shares of Molson Coors Beverage by 17.8% during the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after acquiring an additional 113,091 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.8 %

NYSE TAP opened at $59.36 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market capitalization of $12.03 billion, a P/E ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81. The firm’s 50-day moving average is $57.67 and its two-hundred day moving average is $57.57. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

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

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analysts Set New Price Targets

Several research firms recently commented on TAP. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Morgan Stanley upped their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.67.

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.