Focus Partners Wealth Has $709,000 Position in Molson Coors Beverage (NYSE:TAP)

Focus Partners Wealth cut its position in Molson Coors Beverage (NYSE:TAP) by 55.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,344 shares of the company’s stock after selling 15,592 shares during the quarter. Focus Partners Wealth’s holdings in Molson Coors Beverage were worth $709,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in Molson Coors Beverage in the 4th quarter valued at approximately $68,010,000. Estuary Capital Management LP acquired a new stake in Molson Coors Beverage in the 4th quarter valued at approximately $39,052,000. Freestone Grove Partners LP bought a new position in Molson Coors Beverage in the 4th quarter worth approximately $29,913,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage during the fourth quarter worth approximately $27,660,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 1.0%

Shares of Molson Coors Beverage stock opened at $56.81 on Monday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The stock has a market capitalization of $11.51 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a 50-day simple moving average of $58.61 and a 200 day simple moving average of $58.45. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.31%. Molson Coors Beverage’s payout ratio is 37.83%.

Analyst Ratings Changes

TAP has been the topic of several research analyst reports. Needham & Company LLC lowered their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Morgan Stanley reduced their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Barclays lowered their price target on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.71.

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.