Molson Coors Beverage (NYSE:TAP) Stake Cut by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 91.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,464 shares of the company’s stock after selling 45,177 shares during the quarter. Meeder Asset Management Inc.’s holdings in Molson Coors Beverage were worth $256,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares during the period. Bank of New York Mellon Corp lifted its position in Molson Coors Beverage by 14.0% in 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 in the last quarter. Norges Bank acquired a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $142,407,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after acquiring an additional 33,234 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Molson Coors Beverage by 5.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock worth $50,472,000 after acquiring an additional 42,530 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.7 %

Shares of TAP stock opened at $60.95 on Tuesday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. 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 firm has a market cap of $12.35 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock has a 50 day moving average of $58.22 and a 200-day moving average of $57.76.

Molson Coors Beverage (NYSE:TAP) last released its 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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Analysts Set New Price Targets

A number of brokerages have commented on TAP. UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $63.60.

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.