Voya Investment Management LLC Lowers Stock Position in Molson Coors Beverage (NYSE:TAP)

Voya Investment Management LLC trimmed its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,410 shares of the company's stock after selling 47,767 shares during the quarter. Voya Investment Management LLC's holdings in Molson Coors Beverage were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TAP. Pallas Capital Advisors LLC boosted its stake in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after purchasing an additional 202 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after buying an additional 203 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock valued at $71,000 after buying an additional 218 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TAP shares. Citigroup raised 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. Barclays reduced their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a report on Tuesday, April 29th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $64.14.

Molson Coors Beverage Stock Performance

Shares of TAP traded down $0.57 during trading hours on Tuesday, hitting $56.87. The stock had a trading volume of 2,051,220 shares, compared to its average volume of 2,056,810. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The stock has a fifty day moving average price of $59.54 and a 200 day moving average price of $58.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a market capitalization of $11.52 billion, a PE ratio of 10.63, a PEG ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.31%. Molson Coors Beverage's payout ratio is presently 35.14%.

About Molson Coors Beverage

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.