Molson Coors Beverage (NYSE:TAP) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Molson Coors Beverage (NYSE:TAP) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,600 shares of the company’s stock after selling 17,100 shares during the quarter. Swiss National Bank owned about 0.28% of Molson Coors Beverage worth $36,334,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC grew its position in Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after buying an additional 1,859 shares during the last quarter. International Assets Investment Management LLC increased its position in Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after purchasing an additional 149,093 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after buying an additional 408 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Molson Coors Beverage by 24.2% in the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after buying an additional 2,183 shares in the last quarter. Finally, Beck Bode LLC acquired a new position in Molson Coors Beverage during the fourth quarter worth $1,785,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 1.7 %

TAP opened at $58.27 on Wednesday. The firm’s 50 day moving average is $64.57 and its 200-day moving average is $62.35. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.39 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.09 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating 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 company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Analysts expect that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Evercore ISI lowered their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America dropped their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, UBS Group lowered their price target on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.53.

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.