Great Lakes Advisors LLC Sells 238 Shares of Molson Coors Beverage (NYSE:TAP)

Great Lakes Advisors LLC lessened its position in shares of Molson Coors Beverage (NYSE:TAP) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,360 shares of the company’s stock after selling 238 shares during the quarter. Great Lakes Advisors LLC’s holdings in Molson Coors Beverage were worth $573,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. lifted its stake in shares of Molson Coors Beverage by 11.2% in the 4th quarter. Panagora Asset Management Inc. now owns 60,990 shares of the company’s stock valued at $3,733,000 after purchasing an additional 6,131 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Molson Coors Beverage by 53.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,062 shares of the company’s stock valued at $738,000 after buying an additional 4,176 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Molson Coors Beverage by 9.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 188,698 shares of the company’s stock worth $11,707,000 after buying an additional 15,620 shares in the last quarter. Westpac Banking Corp grew its position in shares of Molson Coors Beverage by 7.1% during the 4th quarter. Westpac Banking Corp now owns 77,966 shares of the company’s stock worth $4,772,000 after buying an additional 5,181 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at $43,000. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TAP. Citigroup reduced their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. UBS Group reduced their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays dropped their price target on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $54.48 on Thursday. The company has a market capitalization of $11.54 billion, a PE ratio of 10.90, a PEG ratio of 1.99 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $63.11 and its 200-day moving average price is $62.27. Molson Coors Beverage has a twelve month low of $54.46 and a twelve month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities analysts anticipate that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, June 7th. Molson Coors Beverage’s dividend payout ratio is 35.20%.

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.