Sanctuary Advisors LLC Cuts Stake in Molson Coors Beverage (NYSE:TAP)

Sanctuary Advisors LLC reduced its stake in Molson Coors Beverage (NYSE:TAP) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 48,701 shares of the company’s stock after selling 2,003 shares during the period. Sanctuary Advisors LLC’s holdings in Molson Coors Beverage were worth $2,690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares during the last quarter. Red Spruce Capital LLC lifted its holdings in Molson Coors Beverage by 1.0% during the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after purchasing an additional 273 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group upped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley increased their price target 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. Barclays increased their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE TAP opened at $60.29 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. 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 firm’s 50 day simple moving average is $56.41 and its two-hundred day simple moving average is $56.60. The stock has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a PEG ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, analysts expect 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 will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 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.