Ameriprise Financial Inc. Has $22.56 Million Position in Molson Coors Beverage (NYSE:TAP)

Ameriprise Financial Inc. cut its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 386,384 shares of the company's stock after selling 145,523 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.19% of Molson Coors Beverage worth $22,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Randolph Co Inc increased its stake in Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after purchasing an additional 98,984 shares in the last quarter. HighTower Advisors LLC raised its stake in Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after acquiring an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after buying an additional 563 shares in the last quarter. US Bancorp DE grew its stake in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after acquiring an additional 9,825 shares in the last quarter. Finally, Unified Investment Management purchased a new position in Molson Coors Beverage during the fourth quarter worth about $871,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TAP. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective for the company. UBS Group reduced their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC decreased their price target on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $62.71.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.82 on Tuesday, reaching $57.43. 216,306 shares of the stock were exchanged, compared to its average volume of 2,110,007. The stock has a market cap of $11.64 billion, a PE ratio of 10.71, a PEG ratio of 1.52 and a beta of 0.73. The firm has a fifty day moving average price of $58.55 and a two-hundred day moving average price of $58.46. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

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.