Heron Bay Capital Management Sells 5,279 Shares of Molson Coors Beverage (NYSE:TAP)

Heron Bay Capital Management reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 10.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 44,668 shares of the company’s stock after selling 5,279 shares during the quarter. Heron Bay Capital Management’s holdings in Molson Coors Beverage were worth $2,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TAP. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $58.72 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market capitalization of $11.90 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The business has a 50 day simple moving average of $57.56 and a 200-day simple moving average of $57.54.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.20%. Molson Coors Beverage’s payout ratio is 35.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TAP shares. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $56.00 to $62.00 in a research note on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. UBS Group upped their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Morgan Stanley raised their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.67.

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.