Molson Coors Beverage (NYSE:TAP) Stock Position Lowered by Mackay Shields LLC

Mackay Shields LLC lessened its position in Molson Coors Beverage (NYSE:TAPGet Rating) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,606 shares of the company’s stock after selling 621 shares during the quarter. Mackay Shields LLC’s holdings in Molson Coors Beverage were worth $1,280,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Stoneridge Investment Partners LLC lifted its position in shares of Molson Coors Beverage by 58.7% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 28,591 shares of the company’s stock valued at $1,326,000 after acquiring an additional 10,575 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Molson Coors Beverage by 819.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 74,414 shares of the company’s stock worth $3,451,000 after buying an additional 66,324 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Molson Coors Beverage by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 177,646 shares of the company’s stock worth $9,709,000 after buying an additional 4,221 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in Molson Coors Beverage by 2.9% in the 4th quarter. Wilsey Asset Management Inc. now owns 459,223 shares of the company’s stock worth $21,285,000 after buying an additional 12,966 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Molson Coors Beverage by 5.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 103,250 shares of the company’s stock worth $4,785,000 after buying an additional 5,577 shares in the last quarter. Institutional investors and hedge funds own 79.94% of the company’s stock.

NYSE:TAP opened at $55.63 on Tuesday. Molson Coors Beverage has a 1 year low of $42.46 and a 1 year high of $61.48. The firm’s fifty day simple moving average is $51.58 and its 200 day simple moving average is $48.51. The company has a current ratio of 0.77, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $12.07 billion, a PE ratio of 12.02, a PEG ratio of 2.90 and a beta of 0.93.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.09). Molson Coors Beverage had a net margin of 8.08% and a return on equity of 6.78%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts anticipate that Molson Coors Beverage will post 4.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Monday, March 7th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 4th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 32.83%.

TAP has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of Molson Coors Beverage from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 24th. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Wednesday, February 23rd. StockNews.com began coverage on shares of Molson Coors Beverage in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.13.

Molson Coors Beverage Profile (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

Further Reading

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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