AGF Management Ltd. Lowers Stock Position in Molson Coors Beverage (NYSE:TAP)

AGF Management Ltd. lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,384 shares of the company’s stock after selling 623 shares during the period. AGF Management Ltd.’s holdings in Molson Coors Beverage were worth $538,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Integrated Investment Consultants LLC lifted its position in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Molson Coors Beverage by 1.2% during the 4th 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 raised its stake in shares of Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after acquiring an additional 202 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock worth $71,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $59.68 on Friday. 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 company has a market cap of $12.09 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm’s fifty day simple moving average is $57.17 and its two-hundred day simple moving average is $57.38.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.15%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Wall Street Analyst Weigh In

Several research firms recently commented on TAP. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $56.00 to $62.00 in a research note on Thursday. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, UBS Group upped their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.67.

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.