Greenwood Capital Associates LLC Sells 399 Shares of Molson Coors Beverage (NYSE:TAP)

Greenwood Capital Associates LLC decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,389 shares of the company’s stock after selling 399 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Molson Coors Beverage were worth $997,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the 3rd quarter worth about $35,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $59,000. Allworth Financial LP raised its stake in Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after buying an additional 297 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Molson Coors Beverage during the third quarter worth $77,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TAP. Needham & Company LLC initiated coverage on Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 price target for the company. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. UBS Group reduced their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.64.

Molson Coors Beverage Stock Down 0.9 %

Shares of TAP stock opened at $52.93 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $10.90 billion, a PE ratio of 11.92, a P/E/G ratio of 2.52 and a beta of 0.85. The stock’s 50-day simple moving average is $57.51 and its 200-day simple moving average is $56.25.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS. Equities analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.