Public Employees Retirement System of Ohio Has $3.61 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Public Employees Retirement System of Ohio reduced its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,896 shares of the company's stock after selling 5,888 shares during the period. Public Employees Retirement System of Ohio's holdings in Molson Coors Beverage were worth $3,605,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TAP. Fifth Third Bancorp raised its holdings in Molson Coors Beverage by 5.0% during the fourth quarter. Fifth Third Bancorp now owns 8,875 shares of the company's stock valued at $509,000 after buying an additional 419 shares in the last quarter. Blue Trust Inc. grew its position in shares of Molson Coors Beverage by 33.0% in the fourth quarter. Blue Trust Inc. now owns 3,926 shares of the company's stock valued at $226,000 after purchasing an additional 975 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Molson Coors Beverage by 0.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 287,159 shares of the company's stock valued at $16,460,000 after purchasing an additional 1,823 shares during the last quarter. Mediolanum International Funds Ltd grew its position in shares of Molson Coors Beverage by 55.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 16,257 shares of the company's stock valued at $922,000 after purchasing an additional 5,791 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $210,000. 78.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director now directly owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TAP. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Barclays lowered their target price on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Needham & Company LLC reduced their target price on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $63.26.

Molson Coors Beverage Stock Down 1.5%

Shares of TAP stock traded down $0.81 during trading on Monday, reaching $52.78. The company's stock had a trading volume of 1,023,436 shares, compared to its average volume of 2,136,732. The business has a fifty day moving average price of $57.72 and a 200-day moving average price of $58.15. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The business had revenue of $2.30 billion during 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 for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.56%. Molson Coors Beverage's payout ratio is 37.83%.

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.