Molson Coors Beverage (NYSE:TAP) Stake Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,860 shares of the company’s stock after selling 3,949 shares during the period. Teacher Retirement System of Texas’ holdings in Molson Coors Beverage were worth $2,285,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TAP. Truvestments Capital LLC lifted its position in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Private Trust Co. NA increased its position in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after purchasing an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after purchasing an additional 489 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 3.1 %

Shares of Molson Coors Beverage stock opened at $60.57 on Thursday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company’s fifty day simple moving average is $57.88 and its 200-day simple moving average is $57.61. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.10%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the subject of several recent research reports. Barclays raised Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. Morgan Stanley increased their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group lifted their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.67.

Molson Coors Beverage 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.