Lazari Capital Management Inc. Sells 750 Shares of Molson Coors Beverage (NYSE:TAP)

Lazari Capital Management Inc. lowered its stake in shares of Molson Coors Beverage (NYSE:TAP) by 17.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,450 shares of the company’s stock after selling 750 shares during the quarter. Lazari Capital Management Inc.’s holdings in Molson Coors Beverage were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the last quarter. Morgan Stanley lifted its stake in shares of Molson Coors Beverage by 40.2% during 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. grew its holdings in shares of Molson Coors Beverage by 13.0% during the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock valued at $196,332,000 after buying an additional 355,694 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Molson Coors Beverage by 9,466.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after acquiring an additional 2,121,211 shares during the period. Finally, Norges Bank acquired a new stake in Molson Coors Beverage during the 4th quarter worth about $127,337,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.5 %

Shares of NYSE:TAP traded down $0.77 on Friday, hitting $49.53. 2,881,495 shares of the company’s stock were exchanged, compared to its average volume of 2,317,569. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $70.90. The company has a market capitalization of $10.49 billion, a PE ratio of 9.91, a P/E/G ratio of 1.79 and a beta of 0.81. The firm’s 50-day moving average is $58.06 and its 200 day moving average is $61.44.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts predict that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.55%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TAP shares. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Citigroup cut their price objective on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. Piper Sandler started coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Evercore ISI dropped their price target on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.07.

Molson Coors Beverage 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.