Molson Coors Beverage (NYSE:TAP) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in Molson Coors Beverage (NYSE:TAP) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,950 shares of the company’s stock after selling 10,125 shares during the period. Skylands Capital LLC’s holdings in Molson Coors Beverage were worth $1,487,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC lifted its stake in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. True Wealth Design LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP raised its holdings in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.2 %

TAP stock opened at $60.29 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company’s 50 day moving average price is $56.41 and its 200 day moving average price is $56.63.

Molson Coors Beverage (NYSE:TAP) last released 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 company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Barclays boosted their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, UBS Group increased their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $63.27.

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.