Metis Global Partners LLC Cuts Position in Molson Coors Beverage (NYSE:TAP)

Metis Global Partners LLC decreased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,897 shares of the company’s stock after selling 807 shares during the period. Metis Global Partners LLC’s holdings in Molson Coors Beverage were worth $911,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TAP. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth about $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the third quarter worth about $42,000. Catalyst Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after buying an additional 276 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter valued at approximately $59,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $59.56 on Wednesday. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $56.69 and its 200-day simple moving average is $56.99. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced 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 represents a $1.88 annualized dividend and a yield of 3.16%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Molson Coors Beverage Company 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.