Illinois Municipal Retirement Fund Decreases Position in Molson Coors Beverage (NYSE:TAP)

Illinois Municipal Retirement Fund lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 35.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,943 shares of the company’s stock after selling 70,205 shares during the period. Illinois Municipal Retirement Fund’s holdings in Molson Coors Beverage were worth $7,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after buying an additional 1,859 shares during the period. International Assets Investment Management LLC lifted its position in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after purchasing an additional 149,093 shares during the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after purchasing an additional 408 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $3,245,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Down 0.6 %

NYSE TAP opened at $64.13 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $13.63 billion, a PE ratio of 14.71, a P/E/G ratio of 2.23 and a beta of 0.84. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The firm’s fifty day moving average is $65.02 and its two-hundred day moving average is $62.27.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Analysts expect that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is 40.37%.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent analyst reports. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Barclays lifted their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.07.

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.