Landscape Capital Management L.L.C. Purchases Shares of 30,517 Molson Coors Beverage (NYSE:TAP)

Landscape Capital Management L.L.C. acquired a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,517 shares of the company's stock, valued at approximately $1,755,000.

Several other large investors also recently bought and sold shares of TAP. iA Global Asset Management Inc. lifted its stake in 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 buying an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP boosted its stake in Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock valued at $2,709,000 after acquiring an additional 29,552 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Molson Coors Beverage in the second quarter worth about $3,842,000. Bessemer Group Inc. increased its holdings in shares of Molson Coors Beverage by 390.1% in the 1st quarter. Bessemer Group Inc. now owns 32,612 shares of the company's stock valued at $2,193,000 after acquiring an additional 25,958 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Molson Coors Beverage by 28.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company's stock worth $20,895,000 after buying an additional 68,900 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.2 %

Shares of TAP traded down $0.11 on Friday, hitting $60.36. 1,470,462 shares of the stock traded hands, compared to its average volume of 1,911,936. The business has a 50 day simple moving average of $56.73 and a 200 day simple moving average of $54.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a market capitalization of $12.43 billion, a PE ratio of 13.59, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $1.80 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 for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Molson Coors Beverage's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 39.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TAP. 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 research report on Friday, October 18th. Wells Fargo & Company upgraded 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 note on Friday, November 8th. TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, October 8th. Piper Sandler lifted their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and an average price target of $60.31.

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.