Balyasny Asset Management L.P. Has $388,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Balyasny Asset Management L.P. cut its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 94.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,775 shares of the company's stock after selling 111,383 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Molson Coors Beverage were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock worth $12,183,000 after purchasing an additional 9,510 shares during the last quarter. Czech National Bank increased its position in Molson Coors Beverage by 5.8% during the fourth quarter. Czech National Bank now owns 37,873 shares of the company's stock worth $2,171,000 after buying an additional 2,083 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Molson Coors Beverage by 28.0% during the fourth quarter. Park Avenue Securities LLC now owns 12,163 shares of the company's stock valued at $697,000 after buying an additional 2,660 shares in the last quarter. Butensky & Cohen Financial Security Inc. lifted its position in shares of Molson Coors Beverage by 1.1% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 85,288 shares of the company's stock worth $4,889,000 after buying an additional 966 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Molson Coors Beverage during the 4th quarter worth about $401,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP traded up $0.34 during trading on Tuesday, hitting $56.95. 2,616,772 shares of the stock were exchanged, compared to its average volume of 2,119,220. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The company's fifty day simple moving average is $58.55 and its 200-day simple moving average is $58.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The business 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 firm's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. Sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.30%. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC dropped their price objective on 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. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.