Molson Coors Beverage (NYSE:TAP) Shares Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 23.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,474 shares of the company's stock after acquiring an additional 9,234 shares during the quarter. Qsemble Capital Management LP's holdings in Molson Coors Beverage were worth $2,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. boosted its position in shares of Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company's stock worth $2,124,000 after purchasing an additional 17,062 shares during the period. Wakefield Asset Management LLLP grew its stake in shares of Molson Coors Beverage by 124.5% in the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock valued at $2,709,000 after buying an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Molson Coors Beverage in 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% in the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company's stock valued at $35,023,000 after buying an additional 27,203 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Molson Coors Beverage by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company's stock worth $20,673,000 after acquiring an additional 56,584 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Hsbc Global Res cut Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Barclays boosted their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday. They issued a "neutral" rating and a $64.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.57.

Molson Coors Beverage Price Performance

TAP stock traded up $0.74 during midday trading on Tuesday, hitting $61.41. 2,132,697 shares of the stock were exchanged, compared to its average volume of 1,916,991. The stock's 50-day moving average price is $56.94 and its 200-day moving average price is $54.44. 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 stock has a market cap of $12.65 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 2.34 and a beta of 0.82. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 earnings per share. Research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced 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 2.87%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's payout ratio is 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.