Molson Coors Beverage (NYSE:TAP) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its position in shares of Molson Coors Beverage (NYSE:TAP) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,240 shares of the company’s stock after selling 369 shares during the period. Harbour Investments Inc.’s holdings in Molson Coors Beverage were worth $128,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Molson Coors Beverage by 8.4% during 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 stake in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after purchasing an additional 434,250 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Molson Coors Beverage by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after purchasing an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Molson Coors Beverage by 5.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock valued at $50,472,000 after acquiring an additional 42,530 shares in the last quarter. Finally, RWC Asset Management LLP raised its stake in shares of Molson Coors Beverage by 17.8% in the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after acquiring an additional 113,091 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

TAP stock opened at $58.72 on Friday. The firm has a 50 day moving average of $57.56 and a 200-day moving average of $57.54. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a market cap 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 (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) 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 company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal 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 given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Analyst Ratings Changes

Several equities analysts recently commented on TAP shares. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. UBS Group raised their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Barclays raised Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $56.00 to $62.00 in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.67.

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.