Corient Private Wealth LLC Lowers Stock Position in Molson Coors Beverage (NYSE:TAP)

Corient Private Wealth LLC decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,680 shares of the company’s stock after selling 2,371 shares during the period. Corient Private Wealth LLC’s holdings in Molson Coors Beverage were worth $3,877,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in Molson Coors Beverage by 8.4% during the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Molson Coors Beverage during the 4th quarter valued at approximately $27,660,000. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after purchasing an additional 434,250 shares in the last quarter. Invenomic Capital Management LP increased its stake in Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after purchasing an additional 294,596 shares in the last quarter. Finally, LBP AM SA increased its stake in Molson Coors Beverage by 1,553.3% during the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock valued at $11,846,000 after purchasing an additional 194,164 shares in the last quarter. 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 recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. UBS Group increased their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $58.72 on Friday. The company’s fifty day moving average price is $57.56 and its 200 day moving average price is $57.54. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a market capitalization of $11.90 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 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.