Teachers Retirement System of The State of Kentucky Lowers Stake in Molson Coors Beverage (NYSE:TAP)

Teachers Retirement System of The State of Kentucky lowered its position in Molson Coors Beverage (NYSE:TAP) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,026 shares of the company’s stock after selling 366 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Molson Coors Beverage were worth $747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TAP. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake 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 valued at $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. Private Trust Co. NA raised its holdings in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after buying an additional 489 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Molson Coors Beverage Trading Down 2.6 %

NYSE TAP opened at $56.82 on Monday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm’s fifty day moving average price is $59.96 and its 200 day moving average price is $58.37.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share 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. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.31%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.