Forsta AP Fonden Has $7.20 Million Position in Molson Coors Beverage (NYSE:TAP)

Forsta AP Fonden cut its position in shares of Molson Coors Beverage (NYSE:TAP) by 27.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 125,600 shares of the company’s stock after selling 48,400 shares during the quarter. Forsta AP Fonden’s holdings in Molson Coors Beverage were worth $7,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in shares of Molson Coors Beverage by 253.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,677 shares of the company’s stock worth $1,356,000 after purchasing an additional 19,127 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Molson Coors Beverage by 72.1% in the second quarter. Public Sector Pension Investment Board now owns 6,365 shares of the company’s stock worth $324,000 after purchasing an additional 2,667 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Molson Coors Beverage by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 146,029 shares of the company’s stock worth $7,423,000 after buying an additional 10,014 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Molson Coors Beverage during the second quarter worth $681,000. Finally, Creative Planning raised its stake in shares of Molson Coors Beverage by 6.5% in the 2nd quarter. Creative Planning now owns 16,472 shares of the company’s stock valued at $837,000 after buying an additional 1,003 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Up 0.6 %

Shares of TAP opened at $55.26 on Friday. The stock’s fifty day simple moving average is $57.94 and its 200-day simple moving average is $56.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.38 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. As a group, research analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Analyst Ratings Changes

TAP has been the subject of several recent research reports. Barclays dropped their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.64.

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.