Yousif Capital Management LLC Reduces Stock Position in Molson Coors Beverage (NYSE:TAP)

Yousif Capital Management LLC cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,540 shares of the company’s stock after selling 957 shares during the period. Yousif Capital Management LLC’s holdings in Molson Coors Beverage were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management bought a new position in Molson Coors Beverage in the 3rd quarter valued at $223,000. Creative Planning boosted its stake in shares of Molson Coors Beverage by 14.7% during the third quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after purchasing an additional 2,418 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Molson Coors Beverage by 16.1% during the third quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock valued at $7,177,000 after purchasing an additional 17,285 shares during the period. Inlet Private Wealth LLC grew its holdings in shares of Molson Coors Beverage by 4.7% in the third quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock worth $2,748,000 after purchasing an additional 2,150 shares during the last quarter. Finally, Randolph Co Inc bought a new position in Molson Coors Beverage in the 3rd quarter worth about $21,754,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TAP shares. Barclays dropped their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.36.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $58.52 on Friday. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock’s 50-day simple moving average is $56.52 and its 200-day simple moving average is $56.26. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. As a group, equities analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.01%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.