Keybank National Association OH Sells 49,041 Shares of Molson Coors Beverage (NYSE:TAP)

Keybank National Association OH lessened its stake in shares of Molson Coors Beverage (NYSE:TAP) by 41.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,936 shares of the company’s stock after selling 49,041 shares during the quarter. Keybank National Association OH’s holdings in Molson Coors Beverage were worth $3,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC grew its stake in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TAP shares. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Finally, Morgan Stanley boosted their target price on 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Stock Down 0.5 %

TAP stock opened at $59.31 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market capitalization of $12.02 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.52 and a beta of 0.85. The business has a 50-day moving average of $56.71 and a 200-day moving average of $57.04. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during 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%. On average, sell-side analysts anticipate 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 issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio 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.