Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 21,200 Shares of Molson Coors Beverage (NYSE:TAP)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 26.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,066 shares of the company’s stock after selling 21,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Molson Coors Beverage were worth $3,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth $48,202,000. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% in 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 in the last quarter. Invenomic Capital Management LP increased its position in Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after buying an additional 294,596 shares during the last quarter. AustralianSuper Pty Ltd increased its position in Molson Coors Beverage by 149.1% during the third quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock worth $21,652,000 after buying an additional 225,296 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Molson Coors Beverage by 92.8% during the third quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock valued at $24,966,000 after buying an additional 208,974 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.7 %

TAP stock opened at $60.75 on Wednesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve 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 company has a market cap of $12.51 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The business’s 50-day simple moving average is $56.47 and its 200 day simple moving average is $56.75.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share 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, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.09%. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TAP. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. 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. JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Profile

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.