Capital Management Corp VA Lowers Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Capital Management Corp VA cut its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 8.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,276 shares of the company's stock after selling 16,025 shares during the quarter. Molson Coors Beverage accounts for about 2.1% of Capital Management Corp VA's investment portfolio, making the stock its 18th largest holding. Capital Management Corp VA owned 0.08% of Molson Coors Beverage worth $10,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Molson Coors Beverage by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company's stock worth $1,138,589,000 after acquiring an additional 1,235,013 shares during the period. State Street Corp boosted its position in Molson Coors Beverage by 1.7% during the 1st quarter. State Street Corp now owns 8,727,747 shares of the company's stock worth $465,887,000 after acquiring an additional 143,757 shares during the period. Capital International Investors boosted its position in Molson Coors Beverage by 1.0% during the 1st quarter. Capital International Investors now owns 4,721,084 shares of the company's stock worth $252,011,000 after acquiring an additional 49,044 shares during the period. Geode Capital Management LLC boosted its position in Molson Coors Beverage by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 3,859,484 shares of the company's stock worth $198,998,000 after acquiring an additional 38,966 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock valued at $218,168,000 after buying an additional 1,500,269 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP traded up $0.35 on Friday, reaching $64.23. 1,353,692 shares of the stock traded hands, compared to its average volume of 1,471,554. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The stock's 50-day moving average price is $64.98 and its 200-day moving average price is $62.23.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.74%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage's dividend payout ratio is 40.37%.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company's stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a "hold" rating in a report on Wednesday. Barclays lifted their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an "equal weight" rating in a report on Friday, April 12th. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. The Goldman Sachs Group upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price target for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Citigroup lifted their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $68.73.

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.