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

Penserra Capital Management LLC decreased its position in Molson Coors Beverage (NYSE:TAP – Get Rating) by 86.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,220 shares of the company’s stock after selling 20,870 shares during the period. Penserra Capital Management LLC’s holdings in Molson Coors Beverage were worth $154,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TAP. Dark Forest Capital Management LP purchased a new stake in shares of Molson Coors Beverage in the second quarter valued at $31,000. Trustcore Financial Services LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at $29,000. Jones Financial Companies Lllp lifted its position in shares of Molson Coors Beverage by 529.5% in the second quarter. Jones Financial Companies Lllp now owns 661 shares of the company’s stock valued at $36,000 after acquiring an additional 556 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. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Molson Coors Beverage in the second quarter valued at $50,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Molson Coors Beverage Stock Down 0.1 %

Shares of Molson Coors Beverage stock opened at $53.75 on Tuesday. The business’s fifty day moving average price is $51.65 and its two-hundred day moving average price is $51.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.55. The company has a market capitalization of $11.64 billion, a P/E ratio of -65.55, a PEG ratio of 3.36 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $46.69 and a 1-year high of $60.12.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.24. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.81 EPS. As a group, research analysts forecast that Molson Coors Beverage will post 4.12 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.41 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.05%. Molson Coors Beverage’s payout ratio is currently -185.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TAP. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $60.00 in a research report on Friday, January 6th. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $60.00 in a research report on Friday, January 6th. Deutsche Bank Aktiengesellschaft downgraded Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 target price on the stock. in a research report on Tuesday, December 6th. Credit Suisse Group increased their target price on Molson Coors Beverage from $46.00 to $49.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of Molson Coors Beverage in a research report on Tuesday, February 21st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.09.

About Molson Coors Beverage

(Get Rating)

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.