Tredje AP fonden lowered its position in Molson Coors Beverage (NYSE:TAP – Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,888 shares of the company’s stock after selling 14,887 shares during the period. Tredje AP fonden’s holdings in Molson Coors Beverage were worth $853,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TAP. Truvestments Capital LLC lifted its position in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Catalyst Capital Advisors LLC boosted its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. grew its holdings in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Finally, Private Trust Co. NA raised its position in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares during the period. Institutional investors own 78.46% of the company’s stock.
Molson Coors Beverage Stock Up 1.6 %
Shares of NYSE TAP opened at $59.68 on Friday. The business has a fifty day moving average of $57.17 and a two-hundred day moving average of $57.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a market cap of $12.09 billion, a PE ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81.
Molson Coors Beverage Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.15%. Molson Coors Beverage’s dividend payout ratio is 35.14%.
Analyst Ratings Changes
TAP has been the topic of a number of research analyst reports. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut 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. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.67.
Get Our Latest Research Report on TAP
Molson Coors Beverage Company 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.
Featured Articles
- Five stocks we like better than Molson Coors Beverage
- How to find penny stocks to invest and trade
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- 3 Best Fintech Stocks for a Portfolio Boost
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- Dividend Payout Ratio Calculator
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.