Inlet Private Wealth LLC Cuts Stake in Molson Coors Beverage (NYSE:TAP)

Inlet Private Wealth LLC trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 44,920 shares of the company’s stock after selling 2,850 shares during the period. Inlet Private Wealth LLC’s holdings in Molson Coors Beverage were worth $2,575,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TAP. Thrivent Financial for Lutherans raised its stake in Molson Coors Beverage by 253.3% in the second quarter. Thrivent Financial for Lutherans now owns 26,677 shares of the company’s stock worth $1,356,000 after buying an additional 19,127 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Molson Coors Beverage by 72.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 6,365 shares of the company’s stock worth $324,000 after acquiring an additional 2,667 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Molson Coors Beverage by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,029 shares of the company’s stock worth $7,423,000 after purchasing an additional 10,014 shares during the last quarter. Creative Planning grew its stake in Molson Coors Beverage by 6.5% in the second quarter. Creative Planning now owns 16,472 shares of the company’s stock valued at $837,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Molson Coors Beverage by 26.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 70,707 shares of the company’s stock worth $3,594,000 after purchasing an additional 14,661 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TAP shares. TD Cowen lowered their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price target on the stock. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. BNP Paribas initiated coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Barclays reduced their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.64.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $54.76 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company’s 50 day moving average is $57.82 and its 200 day moving average is $56.20. The company has a market cap of $11.28 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.09 and a beta of 0.86.

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, topping the consensus estimate 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 analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $1.92 earnings per share. The firm’s revenue was down 7.8% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.21%. Molson Coors Beverage’s payout ratio is 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.