Molson Coors Beverage (NYSE:TAP) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its stake in Molson Coors Beverage (NYSE:TAP) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,086 shares of the company’s stock after selling 715 shares during the quarter. Virtu Financial LLC’s holdings in Molson Coors Beverage were worth $635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TAP. State Street Corp boosted its position in Molson Coors Beverage by 8.4% in the 3rd 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 shares of Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after purchasing an additional 434,250 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in Molson Coors Beverage by 5.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock valued at $50,472,000 after buying an additional 42,530 shares during the period. Finally, RWC Asset Management LLP increased its holdings in 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 buying an additional 113,091 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.8 %

TAP opened at $59.36 on Tuesday. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company’s 50 day simple moving average is $57.67 and its two-hundred day simple moving average is $57.57. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year 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 posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company 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 is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.17%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.