Molson Coors Beverage (NYSE:TAP) Stake Lessened by Skba Capital Management LLC

Skba Capital Management LLC trimmed its stake in shares of Molson Coors Beverage (NYSE:TAP) by 5.4% during the fourth quarter, HoldingsChannel reports. The fund owned 168,760 shares of the company’s stock after selling 9,700 shares during the quarter. Molson Coors Beverage comprises approximately 1.5% of Skba Capital Management LLC’s holdings, making the stock its 27th largest position. Skba Capital Management LLC’s holdings in Molson Coors Beverage were worth $9,673,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TAP. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 348,580 shares of the company’s stock worth $19,981,000 after purchasing an additional 5,446 shares in the last quarter. Allstate Corp bought a new position in Molson Coors Beverage during the 4th quarter worth approximately $324,000. DnB Asset Management AS grew its position in shares of Molson Coors Beverage by 15.2% in the 4th quarter. DnB Asset Management AS now owns 43,910 shares of the company’s stock worth $2,517,000 after acquiring an additional 5,792 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 0.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 59,044 shares of the company’s stock valued at $3,384,000 after acquiring an additional 277 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $3,086,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 0.7 %

Shares of TAP stock opened at $60.52 on Monday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a market capitalization of $12.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock has a fifty day moving average of $58.11 and a two-hundred day moving average of $57.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.11%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TAP. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Morgan Stanley increased their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.60.

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.