Clarkston Capital Partners LLC Sells 110,040 Shares of Molson Coors Beverage (NYSE:TAP)

Clarkston Capital Partners LLC reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 4,519,677 shares of the company’s stock after selling 110,040 shares during the quarter. Molson Coors Beverage makes up 5.0% of Clarkston Capital Partners LLC’s portfolio, making the stock its 5th largest position. Clarkston Capital Partners LLC’s holdings in Molson Coors Beverage were worth $259,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in Molson Coors Beverage by 1.8% in the 4th quarter. Russell Investments Group Ltd. now owns 331,704 shares of the company’s stock valued at $19,013,000 after purchasing an additional 5,943 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $267,000. Resona Asset Management Co. Ltd. acquired a new stake in Molson Coors Beverage during the fourth quarter worth approximately $3,096,000. ExodusPoint Capital Management LP purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $21,496,000. Finally, Arete Wealth Advisors LLC grew its stake in Molson Coors Beverage by 41.2% in the 4th quarter. Arete Wealth Advisors LLC now owns 16,524 shares of the company’s stock worth $945,000 after acquiring an additional 4,819 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 2.0 %

NYSE TAP opened at $61.19 on Friday. 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 has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The business has a 50 day moving average price of $58.76 and a two-hundred day moving average price of $57.92. The stock has a market cap of $12.40 billion, a PE ratio of 11.44, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share 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 during the quarter, compared to analyst estimates of $2.71 billion. As a group, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced 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 was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TAP shares. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday. They set a “buy” rating and a $86.90 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.06.

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.