Ceera Investments LLC Cuts Position in Molson Coors Beverage (NYSE:TAP)

Ceera Investments LLC lessened its position in shares of Molson Coors Beverage (NYSE:TAP) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,240 shares of the company’s stock after selling 992 shares during the quarter. Ceera Investments LLC’s holdings in Molson Coors Beverage were worth $1,046,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC lifted its stake in shares of Molson Coors Beverage by 11.0% in the 4th quarter. Sowell Financial Services LLC now owns 14,377 shares of the company’s stock valued at $824,000 after purchasing an additional 1,419 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Molson Coors Beverage by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,880 shares of the company’s stock valued at $1,713,000 after purchasing an additional 387 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Molson Coors Beverage by 8.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 138,956 shares of the company’s stock valued at $8,790,000 after purchasing an additional 10,923 shares during the last quarter. Aviance Capital Partners LLC lifted its stake in shares of Molson Coors Beverage by 10.0% in the 4th quarter. Aviance Capital Partners LLC now owns 30,884 shares of the company’s stock valued at $1,770,000 after purchasing an additional 2,814 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $1,339,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 4.2 %

Shares of NYSE:TAP opened at $61.91 on Friday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The business’s fifty day simple moving average is $56.83 and its 200-day simple moving average is $57.15. The company has a market capitalization of $12.54 billion, a PE ratio of 11.57, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.04%. 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TAP. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their price target on 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.