Wilmington Savings Fund Society FSB Has $44,000 Position in Molson Coors Beverage (NYSE:TAP)

Wilmington Savings Fund Society FSB lessened its stake in Molson Coors Beverage (NYSE:TAP) by 83.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 766 shares of the company’s stock after selling 3,785 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Molson Coors Beverage were worth $44,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TAP. State Street Corp raised its position 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 acquiring an additional 681,757 shares during the last quarter. River Road Asset Management LLC increased its position in Molson Coors Beverage by 1.8% in the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after purchasing an additional 29,315 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Molson Coors Beverage during the 3rd quarter worth about $48,202,000. FMR LLC raised its holdings in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after purchasing an additional 134,689 shares during the last quarter. Finally, Private Management Group Inc. lifted its position in Molson Coors Beverage by 5.5% during the 3rd quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock valued at $32,081,000 after purchasing an additional 29,294 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, UBS Group cut their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $62.36.

Molson Coors Beverage Stock Up 9.5 %

Molson Coors Beverage stock opened at $58.52 on Friday. The company has a 50 day moving average of $56.52 and a 200-day moving average of $56.26. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market capitalization of $12.06 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.01%. Molson Coors Beverage’s payout ratio is presently 39.64%.

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.