Molson Coors Beverage (NYSE:TAP) Stock Position Lessened by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,980 shares of the company’s stock after selling 584 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Molson Coors Beverage were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the period. Perpetual Ltd boosted its position in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares during the period. Pallas Capital Advisors LLC grew its stake in Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after acquiring an additional 199 shares in the last quarter. Finally, Red Spruce Capital LLC increased its holdings in shares of Molson Coors Beverage by 1.0% in the 4th quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TAP. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price target for the company. UBS Group decreased their target price on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $61.79.

Molson Coors Beverage Stock Down 1.5 %

Shares of NYSE:TAP opened at $54.03 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $11.13 billion, a PE ratio of 12.17, a P/E/G ratio of 2.04 and a beta of 0.86. The company’s fifty day moving average is $58.52 and its 200-day moving average is $56.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $1.92 EPS. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that Molson Coors Beverage will post 5.79 earnings per share 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. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.26%. Molson Coors Beverage’s dividend payout ratio is currently 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.