Molson Coors Beverage (NYSE:TAP) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,236,181 shares of the company's stock after selling 47,328 shares during the period. Geode Capital Management LLC owned approximately 2.04% of Molson Coors Beverage worth $242,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its holdings in Molson Coors Beverage by 12.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 58,767 shares of the company's stock worth $3,380,000 after buying an additional 6,418 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Molson Coors Beverage by 183.1% during the 3rd quarter. XTX Topco Ltd now owns 25,744 shares of the company's stock valued at $1,481,000 after acquiring an additional 16,651 shares during the period. National Bank of Canada FI lifted its position in shares of Molson Coors Beverage by 52.0% during the 3rd quarter. National Bank of Canada FI now owns 369,929 shares of the company's stock valued at $21,278,000 after acquiring an additional 126,527 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 7.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 18,683 shares of the company's stock worth $1,075,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter worth approximately $3,244,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.2 %

TAP stock traded up $0.13 during midday trading on Friday, hitting $61.07. The stock had a trading volume of 1,326,539 shares, compared to its average volume of 1,904,661. The company's 50-day moving average price is $58.53 and its 200 day moving average price is $55.01. 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 firm has a market cap of $12.58 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business's revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share. On average, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price objective for the company. Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Needham & Company LLC started coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They set a "buy" rating and a $72.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.00.

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.