B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,807 shares of the company's stock, valued at approximately $794,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its holdings in shares of Molson Coors Beverage by 117.5% in the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company's stock valued at $2,124,000 after purchasing an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP lifted its holdings in Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock worth $2,709,000 after buying an additional 29,552 shares during the period. Manning & Napier Advisors LLC bought a new stake in Molson Coors Beverage during the 2nd quarter valued at $3,842,000. Canada Pension Plan Investment Board increased its holdings in shares of Molson Coors Beverage by 28.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company's stock valued at $20,895,000 after acquiring an additional 68,900 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Molson Coors Beverage by 4.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company's stock worth $35,023,000 after acquiring an additional 27,203 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.
Molson Coors Beverage Stock Performance
Shares of TAP stock traded down $0.11 during trading hours on Friday, hitting $60.36. The company's stock had a trading volume of 1,488,366 shares, compared to its average volume of 1,937,611. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $56.84 and a 200 day moving average of $54.45. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a market cap of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.
Molson Coors Beverage Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.92%. Molson Coors Beverage's dividend payout ratio is presently 39.64%.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Piper Sandler increased their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. UBS Group raised their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.31.
Read Our Latest Analysis on TAP
About Molson Coors Beverage
(
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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