Molson Coors Beverage (NYSE:TAP) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG trimmed its holdings in Molson Coors Beverage (NYSE:TAP) by 65.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,796 shares of the company’s stock after selling 9,011 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Molson Coors Beverage were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $142,407,000. State Street Corp boosted its holdings in shares of Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $27,660,000. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after buying an additional 434,250 shares during the last quarter. Finally, LBP AM SA raised its position in shares of Molson Coors Beverage by 1,553.3% in the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock worth $11,846,000 after buying an additional 194,164 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the subject of a number of research reports. Morgan Stanley upped their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Barclays decreased 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. JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $65.06.

Molson Coors Beverage Trading Down 2.0 %

NYSE TAP opened at $61.19 on Friday. The company’s fifty day moving average price is $58.76 and its two-hundred day moving average price is $57.91. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations 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, research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 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.