State of Alaska Department of Revenue Has $1.14 Million Holdings in Molson Coors Beverage (NYSE:TAP)

State of Alaska Department of Revenue cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 33.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,918 shares of the company’s stock after selling 10,179 shares during the period. State of Alaska Department of Revenue’s holdings in Molson Coors Beverage were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the period. River Road Asset Management LLC increased its holdings in Molson Coors Beverage by 1.8% in the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after purchasing an additional 29,315 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at $48,202,000. FMR LLC increased its holdings in Molson Coors Beverage by 23.2% in the third quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after purchasing an additional 134,689 shares during the period. Finally, Private Management Group Inc. increased its holdings in Molson Coors Beverage by 5.5% in the third quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock valued at $32,081,000 after purchasing an additional 29,294 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TAP. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Barclays decreased their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price target on shares of 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. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $62.36.

Molson Coors Beverage Price Performance

TAP stock opened at $53.39 on Thursday. The stock has a market capitalization of $11.00 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company’s 50-day moving average is $56.57 and its 200-day moving average is $56.25. 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 has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.30%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.