Molson Coors Beverage (NYSE:TAP) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its position in Molson Coors Beverage (NYSE:TAP) by 34.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 154,178 shares of the company’s stock after selling 80,900 shares during the period. Korea Investment CORP owned approximately 0.07% of Molson Coors Beverage worth $8,837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC lifted its position in Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after purchasing an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after buying an additional 563 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after buying an additional 9,825 shares during the period. Unified Investment Management purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $871,000. Finally, Wilsey Asset Management Inc. grew its holdings in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after acquiring an additional 8,679 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.7 %

Molson Coors Beverage stock opened at $60.95 on Tuesday. The stock has a market cap of $12.35 billion, a PE ratio of 11.39, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $58.22 and a 200 day moving average price of $57.76. 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 issued 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share 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. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.08%. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TAP shares. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Morgan Stanley boosted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Barclays decreased their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.