DekaBank Deutsche Girozentrale Trims Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Posted by on Apr 21st, 2023

DekaBank Deutsche Girozentrale reduced its stake in Molson Coors Beverage (NYSE:TAP – Get Rating) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,608 shares of the company’s stock after selling 2,955 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Molson Coors Beverage were worth $2,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trustcore Financial Services LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at $29,000. Beacon Capital Management LLC lifted its position in shares of Molson Coors Beverage by 1,781.3% in the fourth quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock valued at $31,000 after acquiring an additional 570 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Molson Coors Beverage by 96.4% in the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after acquiring an additional 373 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at $42,000. Finally, Ronald Blue Trust Inc. lifted its position in shares of Molson Coors Beverage by 335.9% in the third quarter. Ronald Blue Trust Inc. now owns 1,033 shares of the company’s stock valued at $57,000 after acquiring an additional 796 shares in the last quarter. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.5 %

Shares of TAP opened at $57.70 on Friday. The company has a market capitalization of $12.48 billion, a P/E ratio of -70.37, a P/E/G ratio of 3.59 and a beta of 0.83. Molson Coors Beverage has a one year low of $46.69 and a one year high of $60.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.55 and a current ratio of 0.78. The stock has a 50-day moving average price of $52.81 and a 200 day moving average price of $51.86.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its earnings results on Tuesday, February 21st. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the business posted $0.81 EPS. Molson Coors Beverage’s quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts forecast that Molson Coors Beverage will post 4.09 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 17th. Shareholders of record on Friday, March 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Thursday, March 2nd. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.38. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -200.00%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TAP. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $60.00 in a research note on Friday, January 6th. UBS Group dropped their target price on Molson Coors Beverage from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, April 6th. StockNews.com began coverage on Molson Coors Beverage in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group upped their target price on Molson Coors Beverage from $46.00 to $49.00 and gave the company an “underperform” rating in a research note on Wednesday, February 22nd. Finally, Barclays upped their target price on Molson Coors Beverage from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, April 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.33.

Molson Coors Beverage Profile

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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