Amundi Sells 62,006 Shares of Molson Coors Beverage (NYSE:TAP)

Amundi cut its holdings in Molson Coors Beverage (NYSE:TAP) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,017,230 shares of the company’s stock after selling 62,006 shares during the period. Amundi’s holdings in Molson Coors Beverage were worth $56,548,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after acquiring an additional 434,250 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after acquiring an additional 33,234 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth $48,202,000. Finally, RWC Asset Management LLP lifted its position in Molson Coors Beverage by 17.8% during the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock worth $42,829,000 after acquiring an additional 113,091 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays boosted their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Finally, UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $60.35 on Wednesday. The stock has a market cap of $12.23 billion, a P/E ratio of 11.28, a PEG ratio of 1.52 and a beta of 0.81. The company’s 50-day simple moving average is $57.01 and its 200 day simple moving average is $57.29. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 (NYSE:TAP) last posted its 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. 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 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is presently 35.14%.

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.