Schroder Investment Management Group Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

Schroder Investment Management Group reduced its stake in Molson Coors Beverage (NYSE:TAP) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,805,893 shares of the company’s stock after selling 15,471 shares during the quarter. Schroder Investment Management Group owned 0.88% of Molson Coors Beverage worth $103,514,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TAP. Pallas Capital Advisors LLC grew its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after acquiring an additional 199 shares during the period. Venturi Wealth Management LLC grew its holdings in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after purchasing an additional 202 shares during the period. Truvestments Capital LLC grew its holdings in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

NYSE TAP opened at $60.52 on Monday. 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 $58.11 and its two-hundred day simple moving average is $57.72. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Thursday, February 27th. This is an increase 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

TAP has been the topic of a number of research reports. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Barclays reduced their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.60.

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.