First Trust Advisors LP Cuts Stock Position in Molson Coors Beverage (NYSE:TAP)

First Trust Advisors LP cut its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 481,501 shares of the company's stock after selling 30,137 shares during the period. First Trust Advisors LP owned approximately 0.23% of Molson Coors Beverage worth $27,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC boosted its holdings in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in 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 acquiring an additional 428 shares during the period. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. Private Trust Co. NA lifted its holdings in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after acquiring an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. Barclays cut their target price 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. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Tuesday. Finally, Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Trading Down 0.5 %

Shares of NYSE TAP traded down $0.32 during trading on Thursday, hitting $57.22. 374,704 shares of the company were exchanged, compared to its average volume of 2,059,619. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a fifty day moving average price of $59.77 and a 200-day moving average price of $58.37. 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 $11.59 billion, a PE ratio of 10.72, a P/E/G ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts expect 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. This represents a $1.88 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. 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.