Crestline Management LP Sells 27,299 Shares of Molson Coors Beverage (NYSE:TAP)

Crestline Management LP lowered its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,301 shares of the company's stock after selling 27,299 shares during the period. Crestline Management LP's holdings in Molson Coors Beverage were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC boosted its stake 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 boosted 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 grew its holdings in shares of Molson Coors Beverage by 143.6% in 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 period. SRS Capital Advisors Inc. increased its position in shares of 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 in the last quarter. Finally, Private Trust Co. NA raised its stake 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 buying an additional 276 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday. StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Friday. Barclays reduced their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $63.49.

Molson Coors Beverage Stock Up 0.6 %

Shares of NYSE:TAP traded up $0.34 during trading on Friday, hitting $54.60. 3,314,463 shares of the company were exchanged, compared to its average volume of 2,087,411. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $59.12 and a two-hundred day moving average price of $58.42.

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 (EPS) 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 the consensus estimate 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 revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Molson Coors Beverage Company 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.