Sage Capital Advisors llc Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Sage Capital Advisors llc grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 150,077 shares of the company’s stock after acquiring an additional 1,129 shares during the quarter. Molson Coors Beverage makes up 2.2% of Sage Capital Advisors llc’s investment portfolio, making the stock its 9th biggest position. Sage Capital Advisors llc’s holdings in Molson Coors Beverage were worth $8,602,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC raised its holdings in Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares during the last quarter. Perpetual Ltd boosted its position in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after buying an additional 197 shares during the period. SkyView Investment Advisors LLC grew its holdings in Molson Coors Beverage by 1.8% in the 2nd quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock worth $768,000 after acquiring an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after acquiring an additional 277 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TAP shares. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Barclays increased their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. TD Cowen dropped their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Stock Down 5.9 %

Shares of TAP traded down $3.30 during mid-day trading on Friday, reaching $52.29. The company had a trading volume of 1,293,281 shares, compared to its average volume of 1,677,877. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The firm has a 50-day moving average price of $59.38 and a 200 day moving average price of $55.75. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.37%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

About Molson Coors Beverage

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.