Boston Financial Mangement LLC Sells 743 Shares of Molson Coors Beverage (NYSE:TAP)

Boston Financial Mangement LLC cut its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,793 shares of the company’s stock after selling 743 shares during the quarter. Boston Financial Mangement LLC’s holdings in Molson Coors Beverage were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Ieq Capital LLC increased its holdings in shares of Molson Coors Beverage by 236.8% during the fourth quarter. Ieq Capital LLC now owns 67,451 shares of the company’s stock worth $3,866,000 after purchasing an additional 47,425 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Molson Coors Beverage by 29.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock worth $156,000 after purchasing an additional 614 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Molson Coors Beverage by 7.6% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,599 shares of the company’s stock worth $314,000 after purchasing an additional 397 shares during the period. Keating Investment Counselors Inc. boosted its position in shares of Molson Coors Beverage by 1.0% during the 4th quarter. Keating Investment Counselors Inc. now owns 81,772 shares of the company’s stock worth $4,687,000 after acquiring an additional 790 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of 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 acquiring an additional 202 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley increased their price target on shares of 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 upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $60.44 on Friday. The firm has a market capitalization of $12.45 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.55 and a beta of 0.85. The company’s 50 day moving average price is $56.42 and its two-hundred day moving average price is $56.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities analysts forecast that Molson Coors Beverage will post 6.25 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 3.11%. The ex-dividend date is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 32.90%.

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.