D.A. Davidson & CO. Cuts Stock Position in Molson Coors Beverage (NYSE:TAP)

D.A. Davidson & CO. trimmed its stake in shares of Molson Coors Beverage (NYSE:TAP) by 38.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,040 shares of the company’s stock after selling 10,445 shares during the quarter. D.A. Davidson & CO.’s holdings in Molson Coors Beverage were worth $977,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in Molson Coors Beverage by 1.5% in the 4th quarter. CIBC Asset Management Inc now owns 31,506 shares of the company’s stock valued at $1,806,000 after buying an additional 457 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares in the last quarter. Allworth Financial LP lifted its position in shares of Molson Coors Beverage by 25.3% in the fourth quarter. Allworth Financial LP now owns 1,477 shares of the company’s stock valued at $81,000 after acquiring an additional 298 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Molson Coors Beverage by 21.4% in the fourth quarter. Principal Securities Inc. now owns 5,482 shares of the company’s stock worth $314,000 after acquiring an additional 968 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $251,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $60.29 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock’s fifty day moving average is $56.41 and its two-hundred day moving average is $56.63. The company has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.52 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued 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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of research reports. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group upped their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $63.27.

About Molson Coors Beverage

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.