BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 310,636 Shares of Molson Coors Beverage (NYSE:TAP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 51.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,626 shares of the company's stock after selling 310,636 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.14% of Molson Coors Beverage worth $17,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TAP. Family Firm Inc. bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage during the second quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock worth $33,000 after buying an additional 294 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $35,000. Finally, Gladius Capital Management LP bought a new position in Molson Coors Beverage in the 3rd quarter valued at $42,000. Institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

TAP has been the topic of several research analyst reports. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Piper Sandler lifted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Barclays upped their price objective 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. Finally, Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Two 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 company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average price target of $60.31.

Molson Coors Beverage Trading Down 0.2 %

Molson Coors Beverage stock traded down $0.11 during mid-day trading on Friday, reaching $60.36. 1,488,366 shares of the company traded hands, compared to its average volume of 1,937,611. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.34 and a beta of 0.82. The firm's 50 day moving average price is $56.84 and its 200 day moving average price is $54.43.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. Molson Coors Beverage's revenue was down 7.8% on a year-over-year basis. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.92%. Molson Coors Beverage's dividend payout ratio (DPR) is 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.