Massachusetts Financial Services Co. MA Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Massachusetts Financial Services Co. MA bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 37,407 shares of the company's stock, valued at approximately $2,152,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in Molson Coors Beverage during the 2nd quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage during the second quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at about $35,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $42,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP traded down $0.16 during mid-day trading on Thursday, reaching $61.25. The company's stock had a trading volume of 1,438,031 shares, compared to its average volume of 1,914,909. 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 stock has a market cap of $12.62 billion, a P/E ratio of 13.80, a PEG ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business has a 50-day simple moving average of $57.16 and a two-hundred day simple moving average of $54.50.

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 (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during 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 company's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. As a group, equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid 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 2.87%. 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. UBS Group upped 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. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday. They set a "neutral" rating and a $64.00 target price for the company. Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $60.57.

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.