Molson Coors Beverage (NYSE:TAP) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 200.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,000 shares of the company's stock after purchasing an additional 61,350 shares during the quarter. Cerity Partners LLC's holdings in Molson Coors Beverage were worth $5,292,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TAP. Pacer Advisors Inc. increased its holdings in Molson Coors Beverage by 66.5% during the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company's stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company's stock worth $131,130,000 after buying an additional 434,685 shares during the period. River Road Asset Management LLC raised its holdings in Molson Coors Beverage by 1.8% in the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company's stock valued at $96,475,000 after acquiring an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Molson Coors Beverage in the third quarter worth approximately $48,202,000. Finally, Millennium Management LLC grew its holdings in Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company's stock worth $38,893,000 after acquiring an additional 645,847 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.81 during trading on Friday, reaching $62.06. The company's stock had a trading volume of 988,154 shares, compared to its average volume of 1,910,897. The business's fifty day moving average price is $57.28 and its 200-day moving average price is $54.55. 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 firm has a market cap of $12.78 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 2.37 and a beta of 0.82. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 EPS. As a group, analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, October 18th. TD Cowen decreased their price target on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price objective 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 boosted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, UBS Group increased their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average price target of $60.57.

Molson Coors Beverage 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.