Versant Capital Management Inc Trims Stock Position in Molson Coors Beverage (NYSE:TAP)

Versant Capital Management Inc cut its holdings in Molson Coors Beverage (NYSE:TAP) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 501 shares of the company’s stock after selling 244 shares during the period. Versant Capital Management Inc’s holdings in Molson Coors Beverage were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Clark Estates Inc. NY grew its holdings in shares of Molson Coors Beverage by 18.1% during the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the period. Qsemble Capital Management LP boosted its stake in Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after buying an additional 9,234 shares during the period. Principal Financial Group Inc. increased its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after acquiring an additional 9,510 shares during the last quarter. Quest Partners LLC raised its stake in shares of Molson Coors Beverage by 252,400.0% in the 2nd quarter. Quest Partners LLC now owns 17,675 shares of the company’s stock valued at $898,000 after acquiring an additional 17,668 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in shares of Molson Coors Beverage in the 2nd quarter worth approximately $1,237,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 1.3 %

Shares of NYSE TAP opened at $55.26 on Wednesday. The business has a 50-day moving average of $59.36 and a two-hundred day moving average of $55.75. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. On average, analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.18%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

TAP has been the topic of a number of research analyst reports. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. BNP Paribas initiated coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, Barclays lifted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.00.

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.