Versant Capital Management Inc Reduces Position in Molson Coors Beverage (NYSE:TAP)

Versant Capital Management Inc lowered its position in Molson Coors Beverage (NYSE:TAP) by 32.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 501 shares of the company’s stock after selling 244 shares during the period. Versant Capital Management Inc’s holdings in Molson Coors Beverage were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. TD Asset Management Inc grew its holdings in shares of Molson Coors Beverage by 8.0% during the second quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock worth $2,712,000 after buying an additional 3,936 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Molson Coors Beverage by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 31,803 shares of the company’s stock valued at $1,617,000 after purchasing an additional 295 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Molson Coors Beverage by 93.9% in the second quarter. Los Angeles Capital Management LLC now owns 112,786 shares of the company’s stock valued at $5,733,000 after purchasing an additional 54,627 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $163,000. Finally, Caprock Group LLC grew its position in Molson Coors Beverage by 12.4% in the 2nd quarter. Caprock Group LLC now owns 8,036 shares of the company’s stock valued at $408,000 after buying an additional 885 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of analyst reports. Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective for the company. Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.00.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $55.26 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $11.38 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The firm has a 50-day moving average price of $59.36 and a two-hundred day moving average price of $55.75. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during 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 previous year, the firm posted $1.92 EPS. As a group, research analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.18%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

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.