Pacer Advisors Inc. Sells 734,289 Shares of Molson Coors Beverage (NYSE:TAP)

Pacer Advisors Inc. reduced its position in shares of Molson Coors Beverage (NYSE:TAP) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,453,458 shares of the company’s stock after selling 734,289 shares during the period. Pacer Advisors Inc.’s holdings in Molson Coors Beverage were worth $255,272,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage in the third quarter valued at $42,000. Quarry LP bought a new position in shares of Molson Coors Beverage in the second quarter valued at $54,000. True Wealth Design LLC acquired a new position in Molson Coors Beverage during the third quarter worth $59,000. Finally, Allworth Financial LP raised its position in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TAP shares. TD Cowen decreased their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. UBS Group lowered their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC began coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.79.

Molson Coors Beverage Trading Up 2.2 %

Shares of Molson Coors Beverage stock opened at $55.23 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a 50-day moving average of $58.37 and a 200-day moving average of $56.13. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $11.38 billion, a PE ratio of 12.44, a PEG ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data 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 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 the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid 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 yield of 3.19%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.