Deutsche Bank AG Sells 44,403 Shares of Molson Coors Beverage (NYSE:TAP)

Deutsche Bank AG trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,252,836 shares of the company's stock after selling 44,403 shares during the quarter. Deutsche Bank AG owned about 1.09% of Molson Coors Beverage worth $129,133,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. CoreCap Advisors LLC increased its holdings in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after purchasing an additional 643 shares during the period. BOKF NA increased its stake in Molson Coors Beverage by 5.4% during the 4th quarter. BOKF NA now owns 33,734 shares of the company's stock worth $1,769,000 after acquiring an additional 1,741 shares during the period. Brevan Howard Capital Management LP raised its holdings in Molson Coors Beverage by 189.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 45,108 shares of the company's stock valued at $2,586,000 after acquiring an additional 29,521 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Molson Coors Beverage by 5.9% during the 4th quarter. Baird Financial Group Inc. now owns 35,375 shares of the company's stock valued at $2,028,000 after acquiring an additional 1,978 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in shares of Molson Coors Beverage by 11.2% during the 4th quarter. Benjamin Edwards Inc. now owns 17,655 shares of the company's stock worth $1,012,000 after purchasing an additional 1,782 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday. StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a research report on Friday. Barclays lowered their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Berenberg Bank assumed coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Finally, Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.49.

Molson Coors Beverage Trading Up 0.6 %

Shares of NYSE TAP opened at $54.60 on Friday. The firm has a 50 day moving average price of $59.12 and a two-hundred day moving average price of $58.42. The stock has a market cap of $11.06 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. 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 (NYSE:TAP - Get Free Report) last announced its 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). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.44%. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

About Molson Coors Beverage

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.