Tidal Investments LLC Trims Stock Position in Molson Coors Beverage (NYSE:TAP)

Tidal Investments LLC decreased its position in Molson Coors Beverage (NYSE:TAP) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,542 shares of the company’s stock after selling 1,820 shares during the period. Tidal Investments LLC’s holdings in Molson Coors Beverage were worth $1,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming lifted its stake in shares of Molson Coors Beverage by 83.3% in the 4th quarter. State of Wyoming now owns 6,485 shares of the company’s stock valued at $372,000 after purchasing an additional 2,947 shares during the last quarter. Strategic Global Advisors LLC lifted its position in Molson Coors Beverage by 7.1% in the fourth quarter. Strategic Global Advisors LLC now owns 22,549 shares of the company’s stock valued at $1,293,000 after buying an additional 1,490 shares during the last quarter. Toronto Dominion Bank boosted its stake in Molson Coors Beverage by 1.8% during the fourth quarter. Toronto Dominion Bank now owns 96,241 shares of the company’s stock worth $5,517,000 after buying an additional 1,741 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in shares of Molson Coors Beverage during the fourth quarter valued at about $4,538,000. Finally, Royal Bank of Canada lifted its holdings in shares of Molson Coors Beverage by 103.4% in the 4th quarter. Royal Bank of Canada now owns 261,204 shares of the company’s stock worth $14,972,000 after acquiring an additional 132,782 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TAP shares. UBS Group dropped their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Needham & Company LLC cut their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Barclays lowered their target price on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Citigroup upgraded shares of 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 note on Wednesday, February 5th. Finally, Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.26.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director now owns 27,595 shares of the company’s stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $54.04 on Friday. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. 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 50 day moving average price of $58.24 and a 200 day moving average price of $58.40.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage’s payout ratio is currently 37.83%.

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.