Molson Coors Beverage (NYSE:TAP) Shares Sold by KBC Group NV

KBC Group NV cut its stake in Molson Coors Beverage (NYSE:TAP) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 335,243 shares of the company’s stock after selling 145,494 shares during the quarter. KBC Group NV owned about 0.16% of Molson Coors Beverage worth $19,216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at about $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $42,000. Quarry LP purchased a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $54,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP raised its position in shares of Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $54.85 on Wednesday. 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 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $11.30 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. The business’s fifty day moving average price is $58.15 and its 200 day moving average price is $56.20.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.21%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Analyst Ratings Changes

Several research firms have issued reports on TAP. TD Cowen cut their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays decreased their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, UBS Group decreased their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $61.79.

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.