Claro Advisors LLC Sells 1,244 Shares of Molson Coors Beverage (NYSE:TAP)

Claro Advisors LLC reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 25.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,680 shares of the company’s stock after selling 1,244 shares during the quarter. Claro Advisors LLC’s holdings in Molson Coors Beverage were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank increased its position in shares of Molson Coors Beverage by 5.8% during the 4th quarter. Czech National Bank now owns 37,873 shares of the company’s stock valued at $2,171,000 after purchasing an additional 2,083 shares during the last quarter. Sage Capital Advisors llc increased its holdings in Molson Coors Beverage by 0.8% during the fourth quarter. Sage Capital Advisors llc now owns 150,077 shares of the company’s stock worth $8,602,000 after buying an additional 1,129 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after acquiring an additional 563 shares during the period. First Hawaiian Bank boosted its stake in Molson Coors Beverage by 2.0% in the fourth quarter. First Hawaiian Bank now owns 20,195 shares of the company’s stock valued at $1,158,000 after acquiring an additional 394 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Molson Coors Beverage by 92.3% in the fourth quarter. Nordea Investment Management AB now owns 216,413 shares of the company’s stock valued at $12,383,000 after acquiring an additional 103,883 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Barclays upped their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

TAP stock opened at $54.52 on Thursday. The firm has a 50 day simple moving average of $59.26 and a two-hundred day simple moving average of $55.87. The stock has a market cap of $11.23 billion, a PE ratio of 12.28, a P/E/G ratio of 2.36 and a beta of 0.85. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. 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 (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 6.78% and a return on equity of 9.24%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 earnings per share. On average, analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal 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 given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.