Xponance Inc. Sells 2,186 Shares of Molson Coors Beverage (NYSE:TAP)

Xponance Inc. cut its holdings in Molson Coors Beverage (NYSE:TAP) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,710 shares of the company’s stock after selling 2,186 shares during the period. Xponance Inc.’s holdings in Molson Coors Beverage were worth $1,512,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TAP. CWM LLC lifted its stake in Molson Coors Beverage by 51.8% in the third quarter. CWM LLC now owns 5,241 shares of the company’s stock worth $333,000 after purchasing an additional 1,788 shares during the last quarter. Ronald Blue Trust Inc. increased its position in shares of Molson Coors Beverage by 118.0% in the third quarter. Ronald Blue Trust Inc. now owns 835 shares of the company’s stock valued at $55,000 after acquiring an additional 452 shares during the period. Global Retirement Partners LLC increased its position in shares of Molson Coors Beverage by 24.4% in the third quarter. Global Retirement Partners LLC now owns 5,397 shares of the company’s stock valued at $340,000 after acquiring an additional 1,057 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Molson Coors Beverage by 60.8% in the third quarter. Flagship Harbor Advisors LLC now owns 8,727 shares of the company’s stock valued at $555,000 after acquiring an additional 3,299 shares during the period. Finally, Caprock Group LLC increased its position in shares of Molson Coors Beverage by 19.7% in the third quarter. Caprock Group LLC now owns 7,579 shares of the company’s stock valued at $482,000 after acquiring an additional 1,245 shares during the period. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. Citigroup boosted their price target on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Finally, Barclays boosted their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $68.73.

Insider Transactions at Molson Coors Beverage

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

Molson Coors Beverage Trading Down 0.6 %

Shares of NYSE TAP opened at $64.13 on Wednesday. The firm’s 50 day moving average price is $65.02 and its 200-day moving average price is $62.27. The company has a market cap of $13.63 billion, a PE ratio of 14.71, a P/E/G ratio of 2.22 and a beta of 0.84. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. On average, equities research analysts expect that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

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.