Molson Coors Beverage (NYSE:TAP) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,350 shares of the company’s stock after selling 550 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Molson Coors Beverage were worth $249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $42,000. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. True Wealth Design LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP lifted its position in Molson Coors Beverage by 33.7% during the 3rd 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. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TAP. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company raised 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. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Price Performance

Shares of TAP opened at $60.29 on Friday. The company has a market cap of $12.42 billion, a P/E ratio of 11.27, a PEG ratio of 1.52 and a beta of 0.85. The stock has a fifty day moving average price of $56.41 and a 200 day moving average price of $56.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. 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 quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

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.