New York State Common Retirement Fund Cuts Holdings in Molson Coors Beverage (NYSE:TAP)

New York State Common Retirement Fund decreased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 21.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,457 shares of the company's stock after selling 35,914 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Molson Coors Beverage worth $8,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TAP. AQR Capital Management LLC lifted its holdings in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock worth $218,168,000 after acquiring an additional 1,500,269 shares during the period. Morgan Stanley lifted its holdings in Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company's stock valued at $219,194,000 after acquiring an additional 988,864 shares during the last quarter. Invesco Ltd. raised its position in Molson Coors Beverage by 13.0% in the 3rd quarter. Invesco Ltd. now owns 3,087,469 shares of the company's stock valued at $196,332,000 after purchasing an additional 355,694 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 9,466.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company's stock worth $131,211,000 after purchasing an additional 2,121,211 shares during the period. Finally, Northern Trust Corp grew its position in shares of Molson Coors Beverage by 12.1% during the 3rd quarter. Northern Trust Corp now owns 2,017,226 shares of the company's stock valued at $128,275,000 after buying an additional 218,002 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Trading Up 0.1 %

Shares of TAP traded up $0.05 during mid-day trading on Friday, hitting $57.85. 2,054,484 shares of the company's stock traded hands, compared to its average volume of 1,764,315. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The firm has a market capitalization of $12.30 billion, a P/E ratio of 11.56, a PEG ratio of 1.97 and a beta of 0.86. The business's 50-day moving average price is $64.86 and its 200-day moving average price is $62.33.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The business had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 3.04%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio is presently 35.20%.

Wall Street Analyst Weigh In

TAP has been the topic of several recent analyst reports. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. UBS Group decreased their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a "neutral" rating for the company in a report on Wednesday. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $66.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Bank of America cut their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $65.53.

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.