Molson Coors Beverage (NYSE:TAP) Stock Holdings Lessened by Amundi

Amundi lowered its stake in Molson Coors Beverage (NYSE:TAP) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,017,230 shares of the company’s stock after selling 62,006 shares during the period. Amundi owned approximately 0.49% of Molson Coors Beverage worth $56,548,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after buying an additional 434,250 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after buying an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Molson Coors Beverage in the third quarter valued at $48,202,000. Finally, RWC Asset Management LLP increased its holdings in shares of Molson Coors Beverage by 17.8% in the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after buying an additional 113,091 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays lifted their price objective on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Down 4.1 %

Molson Coors Beverage stock opened at $60.35 on Wednesday. The company’s fifty day simple moving average is $57.01 and its 200-day simple moving average is $57.29. 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 has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market cap of $12.23 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 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 business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

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

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.