Greenwood Capital Associates LLC Cuts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Greenwood Capital Associates LLC cut its position in shares of Molson Coors Beverage (NYSE:TAP) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,389 shares of the company’s stock after selling 399 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Molson Coors Beverage were worth $997,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Farther Finance Advisors LLC raised its position in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after acquiring an additional 182 shares during the period. Integrated Investment Consultants LLC raised its holdings in Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares during the period. Perpetual Ltd boosted its position in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares during the period. Finally, Red Spruce Capital LLC increased its position in shares of Molson Coors Beverage by 1.0% in the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after buying an additional 273 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.9 %

Shares of TAP opened at $52.93 on Wednesday. The firm has a 50-day moving average price of $57.51 and a 200 day moving average price of $56.25. The firm has a market capitalization of $10.90 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.52 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 EPS. Sell-side analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.33%. Molson Coors Beverage’s payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TAP shares. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 target price on the stock. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. UBS Group lowered their price objective on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Barclays reduced their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.64.

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.