Molson Coors Beverage (NYSE:TAP) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC trimmed its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,262 shares of the company's stock after selling 53,218 shares during the quarter. Gotham Asset Management LLC owned about 0.16% of Molson Coors Beverage worth $18,759,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TAP. Principal Financial Group Inc. lifted its holdings in Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock valued at $12,183,000 after acquiring an additional 9,510 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Molson Coors Beverage by 2.0% in the 4th quarter. First Hawaiian Bank now owns 20,195 shares of the company's stock valued at $1,158,000 after purchasing an additional 394 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after purchasing an additional 563 shares during the period. Sage Capital Advisors llc increased its position in shares of Molson Coors Beverage by 0.8% during the 4th quarter. Sage Capital Advisors llc now owns 150,077 shares of the company's stock worth $8,602,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Czech National Bank raised its holdings in Molson Coors Beverage by 5.8% in the 4th quarter. Czech National Bank now owns 37,873 shares of the company's stock valued at $2,171,000 after buying an additional 2,083 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analyst Weigh In

TAP has been the subject of several research analyst reports. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Tuesday, April 29th. Morgan Stanley cut their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday. Barclays lowered their price target on 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. Finally, Berenberg Bank assumed 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. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.49.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $54.60 on Friday. The business has a 50-day simple moving average of $59.12 and a 200-day simple moving average of $58.41. The company has a market cap of $11.06 billion, a PE ratio of 10.21, a P/E/G 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. 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 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 firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.44%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 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.

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