LGT Group Foundation Sells 14,745 Shares of Molson Coors Beverage (NYSE:TAP)

LGT Group Foundation lowered its position in shares of Molson Coors Beverage (NYSE:TAP) by 77.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,225 shares of the company’s stock after selling 14,745 shares during the quarter. LGT Group Foundation’s holdings in Molson Coors Beverage were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TAP. Farther Finance Advisors LLC grew its position in Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after acquiring an additional 182 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares during the last quarter. Venturi Wealth Management LLC increased its position in Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, Barclays upped their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Price Performance

TAP stock opened at $59.56 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.52 and a beta of 0.85. The company’s fifty day simple moving average is $56.69 and its 200 day simple moving average is $56.99. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.16%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

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.