Vanguard Personalized Indexing Management LLC Cuts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Vanguard Personalized Indexing Management LLC lessened its position in Molson Coors Beverage (NYSE:TAP) by 13.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,966 shares of the company’s stock after selling 942 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Molson Coors Beverage were worth $308,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TAP. Meridian Investment Counsel Inc. boosted its stake in Molson Coors Beverage by 0.4% during the 1st quarter. Meridian Investment Counsel Inc. now owns 48,740 shares of the company’s stock worth $2,519,000 after purchasing an additional 190 shares during the last quarter. Forza Wealth Management LLC boosted its position in Molson Coors Beverage by 1.3% during the first quarter. Forza Wealth Management LLC now owns 15,940 shares of the company’s stock worth $824,000 after acquiring an additional 200 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Molson Coors Beverage by 4.6% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,692 shares of the company’s stock valued at $242,000 after acquiring an additional 206 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Molson Coors Beverage by 2.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 8,285 shares of the company’s stock valued at $428,000 after acquiring an additional 210 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Molson Coors Beverage by 0.6% in the 4th quarter. Baird Financial Group Inc. now owns 34,883 shares of the company’s stock worth $1,798,000 after purchasing an additional 214 shares in the last quarter. 73.95% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.3 %

Shares of NYSE:TAP opened at $63.08 on Thursday. The firm’s 50-day moving average is $65.96 and its two-hundred day moving average is $60.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.87 and a quick ratio of 0.64. Molson Coors Beverage has a 1 year low of $46.69 and a 1 year high of $70.90. The firm has a market capitalization of $13.64 billion, a PE ratio of 394.25, a price-to-earnings-growth ratio of 1.70 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.63 by $0.15. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Molson Coors Beverage had a net margin of 0.31% and a return on equity of 8.17%. Analysts predict that Molson Coors Beverage will post 5.07 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, August 31st. Molson Coors Beverage’s dividend payout ratio is presently 1,025.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TAP shares. 51job restated a “maintains” rating on shares of Molson Coors Beverage in a research report on Monday, June 26th. Citigroup reiterated a “positive” rating on shares of Molson Coors Beverage in a report on Wednesday, June 21st. The Goldman Sachs Group upped their price objective on shares of Molson Coors Beverage from $61.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Molson Coors Beverage from $47.00 to $50.00 in a research note on Wednesday, May 3rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.88.

Molson Coors Beverage 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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.