Molson Coors Beverage (NYSE:TAP) Stock Holdings Cut by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its position in Molson Coors Beverage (NYSE:TAP) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,866 shares of the company’s stock after selling 957 shares during the quarter. Freedom Investment Management Inc.’s holdings in Molson Coors Beverage were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TAP. Truvestments Capital LLC grew its holdings in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake 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. Private Trust Co. NA boosted its holdings in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after buying an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after buying an additional 489 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP opened at $58.72 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market cap of $11.90 billion, a PE ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $65.24. The firm’s 50 day moving average price is $60.01 and its 200 day moving average price is $58.22.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates 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 expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Analyst Ratings Changes

Several research firms have recently weighed in on TAP. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Barclays cut their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.39.

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.