Sei Investments Co. Decreases Stake in Molson Coors Beverage (NYSE:TAP)

Sei Investments Co. cut its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,516 shares of the company’s stock after selling 3,394 shares during the quarter. Sei Investments Co. owned about 0.08% of Molson Coors Beverage worth $9,602,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TAP. Truvestments Capital LLC grew its position in shares of Molson Coors Beverage by 51.4% in the fourth 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 increased 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 worth $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% during the 4th 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 boosted its position in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of analyst reports. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Morgan Stanley lifted 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 report on Friday, February 14th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays lowered their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, UBS Group boosted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.60.

Molson Coors Beverage Stock Down 0.7 %

Shares of NYSE:TAP opened at $60.52 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm’s 50 day moving average price is $58.11 and its 200 day moving average price is $57.72. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio 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.