South Dakota Investment Council Has $4.20 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

South Dakota Investment Council cut its position in shares of Molson Coors Beverage (NYSE:TAP) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,596 shares of the company’s stock after selling 2,300 shares during the quarter. South Dakota Investment Council’s holdings in Molson Coors Beverage were worth $4,199,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TAP. CWM LLC lifted its stake in Molson Coors Beverage by 51.8% during the third quarter. CWM LLC now owns 5,241 shares of the company’s stock worth $333,000 after purchasing an additional 1,788 shares during the period. Ronald Blue Trust Inc. lifted its stake in Molson Coors Beverage by 118.0% during the third quarter. Ronald Blue Trust Inc. now owns 835 shares of the company’s stock worth $55,000 after purchasing an additional 452 shares during the period. Global Retirement Partners LLC lifted its stake in Molson Coors Beverage by 24.4% during the third quarter. Global Retirement Partners LLC now owns 5,397 shares of the company’s stock worth $340,000 after purchasing an additional 1,057 shares during the period. Flagship Harbor Advisors LLC lifted its stake in Molson Coors Beverage by 60.8% during the third quarter. Flagship Harbor Advisors LLC now owns 8,727 shares of the company’s stock worth $555,000 after purchasing an additional 3,299 shares during the period. Finally, Caprock Group LLC lifted its stake in Molson Coors Beverage by 19.7% during the third quarter. Caprock Group LLC now owns 7,579 shares of the company’s stock worth $482,000 after purchasing an additional 1,245 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TAP shares. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.07.

Molson Coors Beverage Stock Down 0.3 %

NYSE:TAP traded down $0.19 on Wednesday, hitting $63.99. 1,539,065 shares of the company’s stock were exchanged, compared to its average volume of 1,662,275. The firm has a 50-day moving average price of $65.02 and a 200-day moving average price of $62.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a market cap of $13.60 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts expect that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.75%. Molson Coors Beverage’s payout ratio is 40.37%.

Molson Coors Beverage Company 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.