Molson Coors Beverage (NYSE:TAP) Shares Sold by Skba Capital Management LLC

Skba Capital Management LLC decreased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,760 shares of the company’s stock after selling 9,700 shares during the period. Molson Coors Beverage accounts for 1.5% of Skba Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Skba Capital Management LLC owned approximately 0.08% of Molson Coors Beverage worth $9,673,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TAP. Truvestments Capital LLC raised its stake in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the last quarter. Private Trust Co. NA boosted its position in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAP has been the topic of a number of recent analyst reports. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays reduced their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Down 0.7 %

Shares of NYSE TAP opened at $60.52 on Monday. The stock has a fifty day moving average price of $58.11 and a 200 day moving average price of $57.72. 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 has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a market cap of $12.26 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its 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. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. 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 dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s 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.