Maryland State Retirement & Pension System Sells 886 Shares of Molson Coors Beverage (NYSE:TAP)

Maryland State Retirement & Pension System reduced its stake in Molson Coors Beverage (NYSE:TAP) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,123 shares of the company’s stock after selling 886 shares during the period. Maryland State Retirement & Pension System’s holdings in Molson Coors Beverage were worth $523,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC increased its stake in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the period. Private Trust Co. NA raised its stake in shares of Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after purchasing an additional 489 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on TAP shares. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Morgan Stanley boosted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $56.00 to $62.00 in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.67.

Molson Coors Beverage Trading Up 0.8 %

NYSE TAP opened at $59.36 on Tuesday. The stock’s fifty day moving average price is $57.67 and its 200-day moving average price is $57.57. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.03 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The business 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%. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s payout ratio is presently 35.14%.

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.