Citizens Business Bank Sells 2,492 Shares of Molson Coors Beverage (NYSE:TAP)

Citizens Business Bank trimmed its position in shares of Molson Coors Beverage (NYSE:TAP) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,955 shares of the company’s stock after selling 2,492 shares during the period. Citizens Business Bank’s holdings in Molson Coors Beverage were worth $3,731,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Czech National Bank raised its holdings in Molson Coors Beverage by 46.0% during the third quarter. Czech National Bank now owns 32,441 shares of the company’s stock valued at $2,063,000 after acquiring an additional 10,216 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Molson Coors Beverage by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock worth $4,760,000 after purchasing an additional 869 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth approximately $725,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Molson Coors Beverage by 5.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,766 shares of the company’s stock valued at $4,882,000 after buying an additional 3,900 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Molson Coors Beverage by 7.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after buying an additional 2,279 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Citigroup lowered Molson Coors Beverage from a “neutral” rating to a “sell” rating and cut their price objective for the company from $66.00 to $56.00 in a research report on Wednesday, April 24th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Barclays upped their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $68.07.

Molson Coors Beverage Trading Down 9.9 %

TAP stock traded down $6.27 during mid-day trading on Tuesday, reaching $57.29. 5,969,967 shares of the stock traded hands, compared to its average volume of 1,735,450. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The stock has a market capitalization of $12.18 billion, a PE ratio of 13.50, a PEG ratio of 2.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The business has a 50-day moving average price of $65.18 and a two-hundred day moving average price of $62.41.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Equities research analysts expect that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Insiders Place Their Bets

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 shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.71% of the company’s stock.

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.