Jupiter Asset Management Ltd. Sells 1,632 Shares of Molson Coors Beverage (NYSE:TAP)

Jupiter Asset Management Ltd. trimmed its position in shares of Molson Coors Beverage (NYSE:TAP) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 478,924 shares of the company’s stock after selling 1,632 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.23% of Molson Coors Beverage worth $27,452,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TAP. Truvestments Capital LLC increased its position in shares of 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. Farther Finance Advisors LLC boosted its stake in Molson Coors Beverage by 39.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,394 shares of the company’s stock worth $137,000 after buying an additional 674 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after buying an additional 489 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Molson Coors Beverage in the 4th quarter valued at $227,000. Finally, HighTower Advisors LLC raised its stake in shares of Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after buying an additional 10,080 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.7 %

Shares of NYSE:TAP opened at $59.37 on Thursday. 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 firm has a market cap of $12.03 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company’s 50-day moving average price is $57.01 and its two-hundred day moving average price is $57.29.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. 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. Bank of America raised 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 report on Friday, December 6th. BNP Paribas initiated coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Finally, Morgan Stanley upped their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.27.

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.