Molson Coors Beverage (NYSE:TAP) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its holdings in Molson Coors Beverage (NYSE:TAP) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,180 shares of the company’s stock after selling 6,559 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.08% of Molson Coors Beverage worth $11,212,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kestra Private Wealth Services LLC grew its position in shares of Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after purchasing an additional 1,859 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Molson Coors Beverage by 6,418.1% in the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after purchasing an additional 149,093 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after acquiring an additional 408 shares during the last quarter. Metis Global Partners LLC boosted its position in Molson Coors Beverage by 24.2% during the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after acquiring an additional 2,183 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. acquired a new stake in Molson Coors Beverage during the third quarter worth approximately $3,245,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price on the stock. Citigroup raised their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.27.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $63.26 on Wednesday. The company’s fifty day simple moving average is $64.75 and its 200-day simple moving average is $62.20. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.65 billion, a PE ratio of 14.51, a P/E/G ratio of 2.31 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. As a group, equities research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.71% of the company’s stock.

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.