Ieq Capital LLC lessened its stake in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 25.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,893 shares of the company’s stock after selling 1,655 shares during the period. Ieq Capital LLC’s holdings in Molson Coors Beverage were worth $299,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in Molson Coors Beverage by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 213,092 shares of the company’s stock valued at $13,043,000 after purchasing an additional 884 shares during the period. Jump Financial LLC boosted its stake in shares of Molson Coors Beverage by 120.5% in the fourth quarter. Jump Financial LLC now owns 17,500 shares of the company’s stock worth $1,071,000 after acquiring an additional 9,564 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Molson Coors Beverage by 227.8% in the fourth quarter. Teacher Retirement System of Texas now owns 48,219 shares of the company’s stock worth $2,951,000 after acquiring an additional 33,508 shares during the period. Versor Investments LP boosted its stake in shares of Molson Coors Beverage by 93.1% in the fourth quarter. Versor Investments LP now owns 22,978 shares of the company’s stock worth $1,406,000 after acquiring an additional 11,078 shares during the period. Finally, Montag A & Associates Inc. bought a new position in shares of Molson Coors Beverage in the fourth quarter worth about $31,000. Institutional investors own 78.46% of the company’s stock.
Molson Coors Beverage Trading Down 1.7 %
Shares of TAP stock opened at $56.47 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The stock’s 50 day simple moving average is $63.76 and its two-hundred day simple moving average is $62.34. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The company has a market cap of $11.96 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.86.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts predict that Molson Coors Beverage will post 5.69 earnings per share for the current year.Molson Coors Beverage Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a $0.44 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.12%. Molson Coors Beverage’s payout ratio is 35.20%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on TAP. Piper Sandler began coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. UBS Group dropped their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays dropped their price target on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $65.53.
View Our Latest Research Report on Molson Coors Beverage
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.
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