Molson Coors Beverage (NYSE:TAP) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its stake in Molson Coors Beverage (NYSE:TAP) by 9.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,600 shares of the company’s stock after selling 1,200 shares during the period. Versor Investments LP’s holdings in Molson Coors Beverage were worth $665,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TAP. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $42,000. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $59,000. Finally, Allworth Financial LP grew its holdings in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $61.25 on Friday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The business has a 50-day moving average of $56.60 and a two-hundred day moving average of $56.82. The stock has a market capitalization of $12.45 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.52 and a beta of 0.85. 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 (NYSE:TAP) last posted 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. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TAP. UBS Group lifted 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. Barclays lifted their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.27.

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.