Clark Estates Inc. NY Has $3.45 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Clark Estates Inc. NY boosted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the company's stock after acquiring an additional 9,200 shares during the period. Clark Estates Inc. NY's holdings in Molson Coors Beverage were worth $3,451,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its position in shares of 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 worth $2,124,000 after acquiring an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP increased its stake in Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock valued at $2,709,000 after purchasing an additional 29,552 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Molson Coors Beverage during the second quarter valued at $3,842,000. Wedge Capital Management L L P NC raised its holdings in shares of Molson Coors Beverage by 4.1% during the second quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company's stock worth $35,023,000 after purchasing an additional 27,203 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Molson Coors Beverage by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company's stock worth $20,673,000 after buying an additional 56,584 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday. They set a "neutral" rating and a $64.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. 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. Finally, TD Cowen cut their price target on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $60.57.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.16 during trading hours on Wednesday, hitting $61.25. 1,420,220 shares of the company's stock traded hands, compared to its average volume of 1,914,832. 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 company's fifty day simple moving average is $57.05 and its two-hundred day simple moving average is $54.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share 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 firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period last year, the firm posted $1.92 earnings per share. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 39.64%.

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.