Clark Estates Inc. NY Sells 6,485 Shares of Molson Coors Beverage (NYSE:TAP)

Clark Estates Inc. NY decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,515 shares of the company’s stock after selling 6,485 shares during the period. Clark Estates Inc. NY’s holdings in Molson Coors Beverage were worth $3,067,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $48,202,000. State Street Corp lifted its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after acquiring an additional 434,250 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Molson Coors Beverage by 131.1% in the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after acquiring an additional 294,596 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Molson Coors Beverage by 92.8% in the 3rd quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock worth $24,966,000 after purchasing an additional 208,974 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Barclays boosted their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Trading Down 2.8 %

Shares of NYSE TAP opened at $59.56 on Wednesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market cap of $12.07 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The business has a fifty day simple moving average of $56.69 and a two-hundred day simple moving average of $56.99. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for 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%. Analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.16%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 35.14%.

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.