Molson Coors Beverage (NYSE:TAP) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 14.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,240 shares of the company’s stock after selling 369 shares during the quarter. Harbour Investments Inc.’s holdings in Molson Coors Beverage were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Natixis Advisors LLC grew its stake in Molson Coors Beverage by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 39,687 shares of the company’s stock worth $2,283,000 after acquiring an additional 6,723 shares during the period. Caprock Group LLC grew its stake in Molson Coors Beverage by 7.7% in the 3rd quarter. Caprock Group LLC now owns 8,652 shares of the company’s stock worth $498,000 after acquiring an additional 616 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $794,000. PNC Financial Services Group Inc. grew its stake in Molson Coors Beverage by 31.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 29,493 shares of the company’s stock worth $1,696,000 after acquiring an additional 7,086 shares during the period. Finally, Commerce Bank purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $209,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

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

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal 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 issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Wall Street Analyst Weigh In

TAP has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price 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. UBS Group lifted their target price 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. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.