New York Life Investment Management LLC Has $1.63 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

New York Life Investment Management LLC lowered its stake in Molson Coors Beverage (NYSE:TAP) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,574 shares of the company’s stock after selling 243 shares during the quarter. New York Life Investment Management LLC’s holdings in Molson Coors Beverage were worth $1,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Molson Coors Beverage by 9,466.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock worth $131,211,000 after purchasing an additional 2,121,211 shares during the last quarter. AQR Capital Management LLC increased its holdings in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after buying an additional 1,500,269 shares during the last quarter. Morgan Stanley raised its position in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after acquiring an additional 988,864 shares in the last quarter. Deutsche Bank AG lifted its stake in Molson Coors Beverage by 57.4% in the third quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock valued at $78,446,000 after acquiring an additional 449,971 shares during the last quarter. Finally, River Road Asset Management LLC grew its position in shares of Molson Coors Beverage by 94.8% in the 4th quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock valued at $51,623,000 after acquiring an additional 410,467 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the topic of a number of research analyst reports. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI cut their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.53.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $57.27 on Tuesday. The stock has a market cap of $12.18 billion, a PE ratio of 11.45, a P/E/G ratio of 2.09 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The business’s 50-day moving average price is $64.66 and its two-hundred day moving average price is $62.36.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. As a group, analysts expect that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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, spirits and energy, and ready to drink beverages.