Molson Coors Beverage (NYSE:TAP) Stock Holdings Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in Molson Coors Beverage (NYSE:TAP) by 26.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,066 shares of the company’s stock after selling 21,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Molson Coors Beverage were worth $3,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake 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. River Road Asset Management LLC grew its holdings 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 worth $96,475,000 after buying an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter valued at approximately $48,202,000. FMR LLC raised its stake in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after acquiring an additional 134,689 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in Molson Coors Beverage by 5.5% during the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock worth $32,081,000 after acquiring an additional 29,294 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.7 %

Shares of Molson Coors Beverage stock opened at $60.75 on Wednesday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm has a market capitalization of $12.51 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. 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 stock’s fifty day moving average is $56.47 and its 200-day moving average is $56.75.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.71 billion. Equities 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 declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is 35.14%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TAP shares. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.27.

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.