XTX Topco Ltd Grows Stake in Molson Coors Beverage (NYSE:TAP)

XTX Topco Ltd lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 183.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,744 shares of the company's stock after acquiring an additional 16,651 shares during the period. XTX Topco Ltd's holdings in Molson Coors Beverage were worth $1,481,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Molson Coors Beverage by 11.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock worth $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC lifted its holdings in shares of Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company's stock worth $239,000 after buying an additional 185 shares in the last quarter. Perpetual Ltd boosted its position in shares of Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company's stock worth $1,182,000 after acquiring an additional 197 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Molson Coors Beverage by 1.8% during the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company's stock worth $768,000 after acquiring an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company's stock valued at $1,845,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

TAP has been the subject of several research reports. TD Cowen dropped their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a report on Tuesday, October 8th. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and increased their price target for the company from $57.00 to $70.00 in a research note on Friday. Needham & Company LLC began coverage on Molson Coors Beverage in a report on Friday. They set a "buy" rating and a $72.00 price objective on the stock. Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and increased their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $62.00.

Molson Coors Beverage Trading Up 0.7 %

Shares of TAP traded up $0.43 during mid-day trading on Monday, reaching $61.56. 1,811,578 shares of the company's stock traded hands, compared to its average volume of 1,910,253. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The stock's 50-day moving average is $58.14 and its two-hundred day moving average is $54.79. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market cap of $12.68 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.37 and a beta of 0.85.

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, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted $1.92 EPS. Molson Coors Beverage's quarterly revenue was down 7.8% on a year-over-year basis. Research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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. This represents a $1.76 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's dividend payout ratio is presently 39.64%.

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.