Nisa Investment Advisors LLC Sells 223 Shares of Molson Coors Beverage (NYSE:TAP)

Nisa Investment Advisors LLC cut its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,037 shares of the company’s stock after selling 223 shares during the period. Nisa Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TAP. State Street Corp lifted its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. River Road Asset Management LLC lifted its holdings in Molson Coors Beverage by 1.8% during the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after purchasing an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Molson Coors Beverage in the third quarter worth approximately $48,202,000. Millennium Management LLC increased its stake in shares of Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after purchasing an additional 645,847 shares in the last quarter. Finally, FMR LLC raised its position in shares of Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after purchasing an additional 134,689 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TAP. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Barclays lowered their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group reduced their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.79.

Read Our Latest Stock Analysis on TAP

Molson Coors Beverage Stock Up 2.2 %

Shares of NYSE TAP opened at $55.23 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 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 firm’s 50-day moving average price is $58.37 and its 200-day moving average price is $56.13. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAPGet Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 earnings per share. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Molson Coors Beverage Profile

(Free Report)

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.

Featured Articles

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

Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.