Private Capital Management LLC Reduces Position in Molson Coors Beverage (NYSE:TAP)

Private Capital Management LLC decreased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 61.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,500 shares of the company's stock after selling 25,000 shares during the quarter. Private Capital Management LLC's holdings in Molson Coors Beverage were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. Norges Bank bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $142,407,000. Fairfax Financial Holdings Ltd. Can purchased a new stake in shares of Molson Coors Beverage in the 4th quarter worth about $68,010,000. Estuary Capital Management LP bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $39,052,000. Freestone Grove Partners LP purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $29,913,000. Finally, Raymond James Financial Inc. bought a new position in Molson Coors Beverage in the fourth quarter worth about $27,660,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 0.4%

NYSE:TAP traded down $0.23 during mid-day trading on Monday, hitting $56.62. 2,668,002 shares of the stock traded hands, compared to its average volume of 2,117,229. 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 stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 10.58, a PEG 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 firm's 50 day moving average is $58.61 and its two-hundred day moving average is $58.45.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The business's revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.32%. Molson Coors Beverage's payout ratio is presently 37.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TAP shares. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Barclays reduced 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 research report on Monday, May 12th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Berenberg Bank initiated coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Finally, StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $62.71.

Molson Coors Beverage 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.