Axa S.A. Sells 108,338 Shares of Molson Coors Beverage (NYSE:TAP)

AXA S.A. lowered its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 326,191 shares of the company's stock after selling 108,338 shares during the quarter. AXA S.A. owned about 0.16% of Molson Coors Beverage worth $18,697,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TAP. Truvestments Capital LLC grew its holdings in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Quarry LP lifted its position in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Molson Coors Beverage by 53.1% during 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 last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Morgan Stanley lifted their price target 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. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price for the company. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.14.

Molson Coors Beverage Price Performance

TAP traded down $0.09 on Wednesday, hitting $56.81. 3,406,366 shares of the stock were exchanged, compared to its average volume of 2,057,874. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.73. The business has a 50-day moving average of $59.36 and a two-hundred day moving average of $58.42.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 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.