Molson Coors Beverage (NYSE:TAP) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lessened its stake in Molson Coors Beverage (NYSE:TAP) by 24.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,747 shares of the company’s stock after selling 569 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Molson Coors Beverage were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC grew its position in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the period. Private Trust Co. NA boosted its stake in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the period. True Wealth Design LLC acquired a new position in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Molson Coors Beverage in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TAP. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target 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. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $59.40 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm’s 50-day simple moving average is $57.24 and its 200-day simple moving average is $57.45. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market cap of $12.04 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.16%. Molson Coors Beverage’s payout ratio is 35.14%.

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.