Benjamin Edwards Inc. Acquires 15,659 Shares of Molson Coors Beverage (NYSE:TAP)

Benjamin Edwards Inc. increased its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 7,317.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,873 shares of the company's stock after acquiring an additional 15,659 shares during the period. Benjamin Edwards Inc.'s holdings in Molson Coors Beverage were worth $913,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TAP. Clark Estates Inc. NY grew its holdings in Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock valued at $3,451,000 after purchasing an additional 9,200 shares during the last quarter. Wakefield Asset Management LLLP raised its holdings in Molson Coors Beverage by 124.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock worth $2,709,000 after acquiring an additional 29,552 shares during the period. Manning & Napier Advisors LLC acquired a new position in Molson Coors Beverage during the 2nd quarter worth $3,842,000. Wedge Capital Management L L P NC boosted its holdings in Molson Coors Beverage by 4.1% during the second quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company's stock valued at $35,023,000 after acquiring an additional 27,203 shares during the period. Finally, Qsemble Capital Management LP grew its position in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock valued at $2,788,000 after purchasing an additional 9,234 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TAP shares. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. BNP Paribas started coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $57.00 to $70.00 in a research note on Friday. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Finally, Barclays raised their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.00.

Molson Coors Beverage Price Performance

TAP stock traded up $0.17 during trading on Friday, hitting $61.13. The company had a trading volume of 2,207,038 shares, compared to its average volume of 1,963,675. The company has a fifty day moving average price of $58.05 and a two-hundred day moving average price of $54.73. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a market cap of $12.59 billion, a P/E ratio of 13.77, a P/E/G ratio of 2.39 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business's revenue was down 7.8% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. Equities research analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 39.64%.

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.