Molson Coors Beverage (NYSE:TAP) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 67,680 shares of the company’s stock after selling 2,371 shares during the period. Corient Private Wealth LLC’s holdings in Molson Coors Beverage were worth $3,877,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TAP. Truvestments Capital LLC grew its holdings in shares of Molson Coors Beverage by 51.4% in 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 in the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $58.72 on Friday. The firm’s fifty day simple moving average is $57.56 and its 200-day simple moving average is $57.54. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG 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 has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The company 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, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. 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 dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio is 35.14%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TAP. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $56.00 to $62.00 in a research note on Thursday, March 13th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $63.67.

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.