Central Pacific Bank Trust Division Has $461,000 Stake in Molson Coors Beverage (NYSE:TAP)

Central Pacific Bank Trust Division grew its holdings in Molson Coors Beverage (NYSE:TAP) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,035 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Molson Coors Beverage were worth $461,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage in the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter worth $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter valued at $42,000. Quarry LP bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $54,000. Finally, True Wealth Design LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter worth $59,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 3.4 %

TAP stock opened at $55.27 on Friday. The business has a fifty day moving average price of $59.37 and a 200 day moving average price of $55.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.38 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.92 earnings per share. Analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.18%. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Needham & Company LLC started coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 target price for the company. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $62.00.

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.