Molson Coors Beverage (NYSE:TAP) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC lessened its position in shares of Molson Coors Beverage (NYSE:TAP) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,362 shares of the company’s stock after selling 1,374 shares during the period. Aviance Capital Partners LLC’s holdings in Molson Coors Beverage were worth $1,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after acquiring an additional 1,500,269 shares in the last quarter. Morgan Stanley boosted its position in shares of Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after buying an additional 988,864 shares during the period. Invesco Ltd. boosted its position in shares of Molson Coors Beverage by 13.0% in the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock worth $196,332,000 after buying an additional 355,694 shares during the period. Pacer Advisors Inc. grew its stake in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after buying an additional 2,121,211 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Molson Coors Beverage by 12.1% during the 3rd quarter. Northern Trust Corp now owns 2,017,226 shares of the company’s stock valued at $128,275,000 after buying an additional 218,002 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TAP shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Bank of America lowered their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. Evercore ISI lowered their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup dropped their target price on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $65.53.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded down $0.58 on Monday, hitting $57.27. 2,342,253 shares of the stock traded hands, compared to its average volume of 1,770,959. The company has a market capitalization of $12.18 billion, a PE ratio of 11.45, a PEG ratio of 2.09 and a beta of 0.86. The company’s fifty day moving average is $64.66 and its 200 day moving average is $62.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 3.07%. Molson Coors Beverage’s dividend payout ratio is 35.20%.

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.