Peapack Gladstone Financial Corp Sells 1,747 Shares of Molson Coors Beverage (NYSE:TAP)

Peapack Gladstone Financial Corp trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,899 shares of the company’s stock after selling 1,747 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Molson Coors Beverage were worth $1,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tennessee Valley Asset Management Partners bought a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $29,000. Montag A & Associates Inc. bought a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $31,000. Stone House Investment Management LLC bought a new stake in shares of Molson Coors Beverage in the third quarter valued at about $32,000. Allworth Financial LP raised its holdings in shares of Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after acquiring an additional 400 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $41,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $52.49 on Thursday. Molson Coors Beverage has a fifty-two week low of $52.28 and a fifty-two week high of $70.90. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The stock’s 50-day simple moving average is $60.64 and its 200-day simple moving average is $61.93.

Molson Coors Beverage (NYSE:TAPGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage will post 5.68 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, June 7th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Analyst Ratings Changes

TAP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Evercore ISI decreased their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Barclays decreased their price objective on Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, UBS Group cut their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.07.

View Our Latest Analysis on TAP

Molson Coors Beverage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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